ISLAMABAD: Italy has become the seventh billion-dollar export country for Pakistan in the world during FY 2021-22 with a record growth of export volume to $1.146 billion, while the remittances from Italy were also on the path to touch billion dollars soon with a total of $857 million during the year.
According to officials, June 2022 also set the record for highest export volume ever to Italy in a single month as it crossed $144 million.
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This phenomenal growth in exports and remittances comes at a time when European economies in general and Italian economy in particular is slowing down and facing multiple challenges due to Ukraine war.
The exports to Italy of $1.15 billion in FY2021-22 are 46% higher than the previous year, while the remittances are 41% higher for the same period than the last year.
Pakistans Ambassador to Italy, Jauhar Saleem paid glowing tributes to the Pakistani exporters for their initiative and hard work and to the Pakistani diaspora in Italy for standing by the country in a most challenging economic environment. He also shared that Pakistan had posted a record trade surplus of $573 million during the financial year 2021-22 which is 91% higher than the previous year.
