Spain Becomes the Third Largest Importer of Pakistani Goods

Spain has become the third major destination for Pakistan’s exports, said Pakistan’s Commercial Counselor to the European country on Wednesday.

The European country has emerged as one of the largest importers of Pakistani goods during the financial year 2016-17.

Dr Muhammad Hamid Ali  Pakistan’s Commercial Counselor to Spain further added that the country has received exports worth $934.03 million in the year 2016-17 from Pakistan. This amounts to an increase of 5.43 per cent when compared to the exports worth $886.72m during the same period in the previous year.

“This is the highest ever increase in Pakistan’s exports to Spain. Prior to the GSP+ facility, the country’s exports to Spain were $564.402m,” the counsellor said.

Growth in exports to Spain despite the odds

The Commercial Counselor pointed out that Pakistan’s export to Spain remained large despite the high unemployment rate in Spain, combined with a number of factors including:

  • minimal wages
  • a fall in purchasing power
  • decline in domestic demand
  • shrinkage in non-essential imports that include textile and clothing

Future Ventures

The GSP+ facility has been instrumental in boosting the country’s exports to the European nation.

Dr Ali added,

Bilateral trade between Pakistan and Spain is on an upward trajectory. We are hoping to reach the $1 billion export mark very soon. The balance of trade is heavily tilted in favour of Pakistan in an overall value of $656.71m for 2016-17.

One of Europe’s fashion companies- Grup Cortifiel, plans to launch two branches of its brand “Women’s Secret” in Pakistan. One of its branches shall open in Lahore while the other one will be inaugurated in Karachi.

Moreover, in order to further improve Pakistan’s exports to Spain, the Embassy of Pakistan in Madrid is working together with Ministry of Commerce, Trade Development Authority of Pakistan and other stakeholders.

Via Dawn

  • Bangladesh is on Top 1

    • Altaf

      How do you know? BTW any thoughts on “women’s secret” ?

      • It’s Secret !

        • Altaf

          Reveal it……

        • Muhammad Sarmad Saleem

          what kind of secret it is bro ?
          simple a shop for under garments, Sleepwear lingerie, Swimwear, accessories too – branded one

    • Sara from Canada

      I come here to just read your comments. It feels incomplete if there is no comment of yours on propakistani. I wish you had your own blog. Keep rocking and keep commenting. Cheers.

      • Thanks for Cooperation !

        • Sara from Canada

          What cooperation????????

          • Thanks for supporting. I Mean

            • Sara from Canada

              Great. Have a wonderful time.

        • Amit Atta

          What is this Abdul, fans from so many countries, care to explain?

    • Iqbal

      I am a Bangladeshi. It is refreshing to see your comment. I love you so much.

      • Great My Family is belong to Dhaka & Some Member still live there

      • Muhammad Sarmad Saleem

        WHY so much hate for PAKISTAN

    • Muhammad Sarmad Saleem

      Na bro u r wrong here :)
      that depends which thing u want :)
      dont compare ur-self with other nations, they have international foot fall :)
      we are living in a dead nation (including me) where we know how to make comments on what other do but dont have a courage to change our-self :)