ISLAMABAD: Pakistan’s exports to European countries grew 9.41 per cent in the first eight months of the current fiscal year from a year ago, mainly due to higher shipments to western and southern states.
In absolute terms, Pakistan’s exports to the European Union (EU) reached $5.921 billion in July- February FY25 from $5.412bn last year, according to data compiled by the State Bank of Pakistan.
The export resurgence was due to a slight increase in demand for Pakistani goods in western, eastern and northern Europe. The revival of export proceeds to these countries shows a rising trend for Pakistani textile and clothing products.
In FY24, Pakistan’s exports to the EU dipped 3.12pc to $8.240bn despite its GSP+ status, which allows duty-free entry into most European markets.
Despite Pakistan’s reportedly lack of strict adherence to these conventions, Islamabad has so far avoided stern criticism from the EU, largely due to the bloc’s preoccupation with the ongoing war in Ukraine.
Western Europe, which includes countries such as Germany, the Netherlands, France, Italy, and Belgium, accounts for the largest portion of Pakistan’s exports to the EU. The exports to this region increased by 11.67pc to $2.918bn in 8MFY25, up from $2.613bn in 8MFY24.
There is also a slight increase in exports to eastern and northern Europe. The exports to the north of Europe saw a rise of 17.73pc to $4.98.61m in 8MFY25, up from $423.51m in the corresponding months last year.
Exports to southern Europe saw a paltry growth of 2.69pc to $2.021bn in 8MFY25 from $1.968bn in the corresponding period last year.
In this region, exports to Spain record a paltry growth of 0.87pc to $973.57m in 8MFY25 from $965.12m in the preceding year.
Exports to Italy increased 1.83pc to $747.03m in 8MFY25 compared to $733.64m in the same period last year. Exports to Greece recorded a marginal increase of 9.53pc to $92.02m during the year under review against $84.01m over the previous year.
