Exports to EU states rise 8pc in first quarter

Pakistan’s exports to European countries resurged in the first quarter of the current fiscal year primarily due to higher shipments to western states. In absolute terms, Pakistan’s exports to the European Union (EU) rose 7.88pc to $2.204 billion in the July-September FY25 from $2.043bn in the same period last year, according to data compiled by the State Bank of Pakistan. The increase was mainly due to a slight increase in demand for Pakistani goods in western, eastern, and northern Europe. In FY24, Pakistan’s exports to the EU dipped 3.12pc to $8.240bn despite its GSP+ status, which allows duty-free entry into most European markets. In October 2023, the European Parliament unanimously voted to extend the GSP+ status for another four years until 2027 for developing countries, including Pakistan, to enjoy duty-free or minimum duty on European exports.