Food exports surge over 30pc to $512.321mn in two months

ISLAMABAD: The food exports from the country surged by 30.06 percent during the first two months of the current fiscal year compared to the corresponding period of last year.

The country earned $512.321 million by exporting various food commodities during July-August (2-17-18) compared to the exports of $393.926 million in July-August (2016-17), showing growth of 30.06 percent, according to the data of Pakistan Bureau of Statistics (PBS).

The food products that contributed in positive growth in trade included Rice, exports of which grew by 40.36 percent from $159.543 million last year to $223.937 million current year.

Among the rice products, the exports of basmati rice increased by 10.35 percent, from $$56.857 million to $62.741 million while the exports of other rice commodities increased by 56.98 percent, from $102.686 million to $161.196 million.

The exports of fish and fish preparations increased from $29.486 million to $35.273 million, showing growth of 19.63 percent while the exports of vegetables went up from $18.888 percent to $20.538 percent, an increase of 8.74 percent.

Tobacco exports expanded by 27.29 percent from $0.700 million to 0.891 million while the exports of wheat witnessed cent percent growth as its exports were recorded at $0.323 million during the first two months of current year compared to zero exports of last year.

Pakistan export oil seeds, nuts and kernals worth $0.5.410 million during the first two months of current year compared to $3.468 million, showing an increase of 56 percent, while the sugar exports witness hundred percent growth as Pakistan exported the commodity worth $32.313 million against zero exports of last year..

Meanwhile, the food products that witnessed negative growth trade during the period under review included fruits, the exports of which decreased by 18.24 percent, from $60.981 million to $49,861 million.

The exports of spices decreased by 21.28 percent from $9.753 million to $7.678 million while the exports of meat and meat preparations decreased by 3.46 percent, from $31.625 million to $30.530 million.

It is pertinent to mention here that overall merchandise exports from the country witnessed positive trend for the second consecutive month and grew by 11.80 percent during the first two months of the current fiscal year compared to the corresponding period of the last year.

The exports from the country during July-August (2017-18) were recorded at $3.497 billion against the exports of $3.128 billion during July-August (2016-17), showing growth of 11.8 percent.

The imports into the country also increased by 24.85 percent by going up from $7.839 during the first two months of last fiscal year to $9.787 billion during the current year.

Based on the figures, the trade deficit during the first two months of the current fiscal year was recorded at $6.290 billion which indicated an increase of 33.52 percent when compared to the deficit of $4.711 billion during the same period of last year.