https://identifycertainlybookie.com/qh2s332z6s?key=033dc9740aea5b3c69b3fea791a8ace7 https://insaafinsights.blogspot.com/ Pakistan’s Exports to Europe Grow 10% to $5.3 Billion in FY25, Boosted by GSP+ Extension Skip to main content

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Pakistan’s Exports to Europe Grow 10% to $5.3 Billion in FY25, Boosted by GSP+ Extension

 ISLAMABAD: Pakistan’s exports to the European countries jumped 9.86% to $5.345 billion in the initial seven months of the current fiscal year (FY25), that was $4.865 billion in the same period last fiscal year. This growth has been contributed by increased demand for Pakistani goods in not only Western and Eastern Europe, but Northern Europe as well, as per data released by the State Bank of Pakistan.

The revival in exports comes after a slight dip of 3.12% in FY24, when Pakistan’s exports to the European Union (EU) dropped to $8.240 billion in spite of the country’s GSP+ status. The GSP scheme (Generalized Scheme of Preferences Plus) enables developing countries including Pakistan to send goods to the EU without or at very low tariff rates. The GSP+ status has now been renewed for another four years to 2027 with a unanimous approval by the European Parliament in October 2023, providing a massive boost to Pakistan’s export sector.

Regional Breakdown of Exports 

- Western Europe: Shipments to this area, which covers big economies like Germany, the Netherlands, France, Italy, and Belgium, went up by 12.72% to $2.702 billion in 7MFY25, from $2.397 billion in the same time last year. Germany alone saw its imports jump by 17.15% hitting $1.003 billion.

- Northern Europe: Sales to this region climbed by 17.10% to $428.64 million, compared to $366.03 million the year before.

- Southern Europe: Goods sent to Southern Europe, including Spain and Italy, showed small gains. Spain noted a tiny rise of 0.5% to $857.02 million, while Italy's purchases grew by 2% to $662.55 million.

- Eastern Europe: Products shipped to Eastern Europe shot up by 18.57% to $426.55 million, from $359.74 million in the same stretch last year.

After Brexit, the UK continues to be a crucial market for Pakistani exports. Shipments to the UK saw a rise of 7.15% to $1.273 billion in 7MFY25 up from $1.188 billion in the same time frame last year. During FY24, goods sent to the UK went up by 2.33% to $2.014 billion.

Other Important Markets

- Netherlands: Goods sent to the Netherlands, Pakistan's number two market in Europe increased by 12.60% to $881.34 million.

- France: Products shipped to France went up by 9.11% to $327.76 million.

- Belgium: Items exported to Belgium climbed by 8.2% to $343.91 million.


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