ISLAMABAD: Pakistan’s exports to Italy witnessed a growth of 46 per cent to $1.002 billion in 11 months on a year-on-year basis, making Italy the second largest export destination in the European market.

       An official announcement issued here said that this is the highest growth rate among all of Pakistan’s export destinations in Europe. Italy is among the countries where Pakistan’s exports have been rising phenomenally despite the tough market conditions caused by the Covid health emergency.

       Pakistan’s trade surplus with Italy has increased 84pc while just three years ago, Pakistan had a trade deficit of $148 million with Italy. Pakistani trade with Italy not only recovered from the deficit but has turned around to post a trade surplus of half a billion dollars.

       The value-added sectors becoming the main driver of growth that has produced a trade surplus of around half a billion dollars. From an increasingly diversified export basket, home textiles, leather, rice, plastic products, surgical instruments, general fitness equipment and auto-parts have been the top-performing product lines.

       Published in Dawn,June 15th, 2022