Pakistan’s exports to European Union (EU) clocked in at $9.5 billion during the fiscal year 2022-23 (FY23), according to an official document available with ProPakistani.

The Trade Diplomacy Wings of the Ministry of Commerce are mandated to safeguard and promote Pakistan’s trade interests and ensure optimum market access opportunities for Pakistan’s exports. In this regard, major achievements and initiatives undertaken to promote and facilitate trade in the last fiscal year were highlighted in the ministry’s latest issue on overall trade between Pakistan and major countries.

According to the document, the country’s trade volume with the European Union stood at $14.2 billion in FY23. The exports to the EU stood at $9.49 billion, while the imports came in at $4.71 billion in FY23.

Meanwhile, exports to both North and South America stood at $6.04 billion, a big jump compared to $3.74 billion in FY22.

Total bilateral trade between Pakistan and Africa stood at $4.44 billion in FY23. Exports stood at $1.55 billion while imports came in at $2.89 billion.

An increase of 3.2 percent was recorded in FY23 in exports to the Middle East compared to exports in FY22 while imports declined by 24 percent in FY23.

Pakistan’s total trade with Afghanistan stood at $1.86 billion in FY23, with exports of $972.43 million and imports of $893.21 million. Pakistan’s trade with Iran stood at $880.51 million in FY23, with no exports and imports of $880.51 million.

Overall, exports of Pakistan to Central Asia witnessed an increase of 25 percent in FY23, the document added.

Source: Pro Pakistani