Pakistan exports of products and services to Italy increased by 35.58 percent during the first three quarters of the fiscal year (2021-22) as compared to the same period last year.
According to the State Bank of Pakistan (SBP), total exports to Italy reached $758.795 million for the period July-March (2021-22), compared to exports of $559.664 million during the same period in the previous year, representing an increase of 35.58 percent over the previous year.
Meanwhile, according to the SBP data, exports to Italy climbed by 42.79 percent year on year, rising from $75.006 million in March 2021 to $107.105 million in March 2022, a jump of 42.79 percent from the previous year.
Exports to Italy increased by 30.89 percent in March 2022 as compared to exports of $81.826 million in February 2022, a month-over-month increase of 30.89 percent.
In total, Pakistan’s exports to foreign countries increased by 26.64 percent in nine months, from the US $18.713 billion to the US $ 23.699 billion, representing a growth of 26.64 percent.
Imports from Italy, on the other hand, increased by 58.64 percent over the first nine months of the fiscal year 2021-22, reaching $620.487 million, compared to $391.109 million the previous year, representing a growth of 58.64 percent.
Meanwhile, the statistics revealed that the imports from Italy climbed by 98.32 percent year on year, rising from $43.320 million in March 2021 to $85.916 million in March 2022, a jump from $43.320 million in March 2021 to $85.916 million in March 2022.
The imports from Italy increased by 47.31 percent in March 2022 as compared to the exports of $58.323 million in February 2022, a month-over-month increase.
Overall imports into the country climbed by 41.33 percent, from the US $38.061 billion to the US $53.795 billion, representing a total increase of US $38.061 billion.
Originally published at lahoreherald.com