SBP raises policy rate by 25 basis points to 7.25 percent

2.68 percent surplus witnessed in Pak-Germany trade: SBP

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Islamabad: Compared with the same period last year, Pakistan’s trade in goods and services with Germany achieved a surplus of 2.68% during the fiscal year (2020-21).

According to data from the National Bank of Pakistan (SBP), the total export value to Germany from July to June (2020-21) was US$151.227 million, while the total export value from July to June (2019-20) The export value was 132.991 million US dollars, an increase of 15.98%.

At the same time, compared with the same period last year, exports to Germany in June 2021 also increased by 31.87% from US$110,212 million, while exports were US$145342 million.

SBP’s data shows that compared with the export value of US$120577 million in May 2021, exports to Germany in June 2021 increased by 20.53% month-on-month.
SBP data shows that in the 2020-21 fiscal year, Pakistan’s total exports to other countries have increased by 13.72%, from 22.536 billion U.S. dollars to 25.629 billion U.S. dollars.

On the other hand, the amount of imports from Germany to the country during the same period was 1,148.035 million U.S. dollars, compared with 949.280 million U.S. dollars last year, an increase of 20.93% in the 2020-21 fiscal year.

At the same time, on a year-on-year basis, imports from Germany in June 2021 also increased by 60.74%, from US$80.84 million last year to US$129.955 million.

According to SBP data, imports from Germany in June 2021 increased by 5.50% month-on-month, compared with the import value of USD 123.18 million in May 2021.

Data show that the country’s overall imports increased by 23.23%, from 43.645 billion U.S. dollars to 53.784 billion U.S. dollars.

During the reporting period, the trade surplus was US$363.192 million, compared with US$353.711 million in the same period last year, an increase of 2.68%.

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