Pakistan achieves trade surplus of $210 million with Italy in 2019-20
ISLAMABAD: Pakistan has achieved a trade surplus of $210 million with Italy during the year 2019-20 as the bilateral trade kept on increasing despite COVID-19 and lockdowns.
In Fiscal Year (FY) 2019-20, Pakistan`s exports to Italy stood at $731 million and imports at $521 million.
The major exports to Italy include textile, leather, rice, and ethanol, a senior official of Ministry of Commerce told APP here on Tuesday.
He said that now Pakistan is market leader in rice and it holds 38% share in Italian rice market and “We exported rice worth $62 million during the period under review”.
He informed that Thailand holds 12% share with $19 million export and adding that the India at number three holds 10% with 17 million in Italian market.
The senior official said that the Pakistan embassy in Italy has also shared the strategy to promote Pakistani products in Italian market.
Replying to a question he said that Italian investment in Pakistan in June 2020 increased 45% against the corresponding period.
He said that in value terms, the rice export remained $51.9 million in last year and it has been increased to $56.4 million in FY 2019-20.
The Italian FDI came mainly in energy, Pharmaceutical, chemicals and Information technology sector to enhance the business to business relation between both the countries, he said. - APP