Exports to EU surge by 14% in first five months of FY25 to $4.8bn
In November alone, exports to EU nations rose by 16% to $894 million
KARACHI: Pakistan’s exports to the European Union (EU) grew by 14% to $4.8 billion during the first five months of the current fiscal year, compared to $4.2 billion in the same period last year, official trade data revealed.
In November alone, exports to EU nations rose by 16% to $894 million, compared to $769 million in the corresponding month of the previous fiscal year.
This growth in exports to the EU outpaced that of all other regions, except Oceania, which imported goods worth only $33 million from Pakistan during the month under review.
The US remained the country’s top export destination, importing goods worth $2.4 billion during the first five months of FY2024-25.
Country-specific data for the EU indicated significant growth. Exports to Germany surged by 20%, while the Netherlands recorded a 14% increase during the July-November period. Exports to Spain and Italy both rose by 8%, while Belgium and France saw growth of 20% each. Exports to Poland and Denmark increased by 12% and 20%, respectively, during the same period.
During this period, Pakistan’s exports to the EU matched those to the broader Asian region, totalling $4.8 billion each.
Exports to the US and the UK also grew substantially, increasing by 14% and 12%, respectively. In contrast, exports to China declined by 14%. Meanwhile, exports to the United Arab Emirates (UAE) surged by 35%, and those to Afghanistan rose by 42%.
Bangladesh and Saudi Arabia also emerged as strong markets, with exports growing by 12% and 10%, respectively, during the first five months of the current fiscal year.
Regionally, exports to Asia increased by 8%, while those to the EU rose by 14%. Exports to the Americas (North and South) and Africa grew by 14% and 20%, respectively, while Oceania registered a 14% increase.
Overall, Pakistan’s exports during the first five months of FY2024-25 rose by 12.57%, reaching $13.691 billion compared to $12.162 billion in the same period of the previous fiscal year. However, November exports dropped by 5.97% to $2.804 billion from $2.982 billion in October.
