The imports of tea into the country witnessed growth of 5.36 percent during the fiscal year 2017-18 as compared to the last financial year (2016-17), according to Pakistan Bureau of Statistics (PBS). Pakistan imported tea worth $551.881 million during the fiscal year under review against the imports of $523.790 million, the PBS data revealed. In terms of quantity, the tea imports into the country however decreased by 5.91 percent by declining from imports of 194,833 metric tons last year to 183,321 metric tons during the fiscal year 2017-18.
The overall food imports into the country during the period under review increased by 0.68 percent by going up from $6143.435 million during 2016-17 to $6185.369 in 2017-18.Meanwhile, on year-on-year basis, the tea imports during June 2018 witnessed negative growth of 15.37 percent as compared to the imports of June 2017. The tea imports in June 2018 were recorded at $27.879 million against the imports of $32.942 million. On month-on-month basis, the tea imports into the country decreased by 10.17 percent during June 2018 when compared to the imports of $31.036 million in May 2018, the data revealed.
It is pertinent to mention here that the overall merchandise imports into the country during the fiscal year 2017-18 increased by 15.10 percent by going up from $52.910 billion in FY 2016-17 to $60.898 billion. On the other hand, the exports from the country surged by 13.74 percent from $20.422 billion to $23.228 billion.
Based on the figures, the external trade deficit during the outgoing fiscal year 2017-18 increased by 15.95 compared to last year. The trade deficit during FY 2017-18 was recorded at $37.670 billion against the deficit of $32.488 billion in FY 2016-17.
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