March 15, 2006	Wednesday	Safar 14, 1427

ISLAMABAD, March 14: Pakistan’s trade surplus with 25 European Union (EU) member countries has declined by 30 per cent during the year 2004-05 over the previous year.

Official figures available with Dawn indicated that in absolute terms, the trade surplus with EU declined to $934.550 million as against $1336.076 million in the previous year.

The gap in the trade with EU reduced following the massive increase in imports of commodities from Germany, Austria, Denmark, Finland, France, Hungary and Sweden during the year under review.

It was expected that during the current fiscal year Pakistan’s trade will enter into deficit from surplus with the EU. The statistics, showed that during the first quarter (July-Sept) of the current fiscal year Pakistan’s trade recorded a deficit of $87.303m with the EU member countries.

The country-wise analysis shows that Pakistan has a surplus trade with 12 EU members. While trade remained in deficit with 13 others.

A senior official said that Pakistan’s export of major products particularly, the textile products registered a nominal growth during the year under review following the graduation of these items under the drug-related generalized system of preferences (GSP), which ended last year.

Under the system, Pakistani products were cleared at zero per cent duty in the EU countries due to which Pakistan had a surplus trade with EU.

The total volume of trade between EU and Pakistan rose by 17.9 per cent to $7.212bn during the year 2004-05 as against $6.117 billion over the previous year.

Pakistan’s exports to 25 EU member countries increased by 9.31 per cent to $4.073 billion during the year under review as against $3.726bn over the previous year. While, Pakistan imports from EU member countries rose by 31.2 per cent to $3.138 billion during the year 2004-05 as against $2.390 billion over the same period of previous year.

Further analysis showed that Pakistan’s exports to the United Kingdom (UK) declined by 5 per cent to $893.480m in the year 2004-05 as against $940.711m in the previous year. While, imports from the UK rose by 21.4 per cent to $532.103m during the year under review as against $438.207 million in the previous year.

Pakistan’s exports to Germany were up 13.49 per cent to $688.588 million during the year under review as against $606.694 million previously. While, imports from Germany rose by 46.5 per cent to $896.582m as against $611.838m in the previous year.

Pakistan’s exports to Netherlands stood at $345.049 million as against $335.158 million, indicating an increase of 2.95 per cent; exports to Spain stood at $341.003 million as against $301.365 million, an increase of 13 per cent, exports to France stood at $367.514 million as against $338.670 million, an increase of 8.51 per cent and exports to Belgium rose by 19.2 per cent to $312.932 million as against $262.354 million in the previous year.

While, imports of Pakistan from Netherlands declined by 33.4 per cent to $146.793 million during the year 2004-05 as against $220.418 million in the previous year; imports from Spain stood at $86.346 million as against $78.905 million, an increase of 9.4 per cent; imports from France increased by 29.2 per cent to $207.460 million as against $160.551 million; imports from Belgium stood at 176.928 million as against $262.004 million in the previous year, a decline of 32.4 per cent.