ISLAMABAD, Dec 26 (APP):The food exports from Pakistan increased by 37.12 percent during the first five months of the current fiscal year as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.
Food exports during July-November (2023-24) were recorded at $2,640.905 million as compared to the exports of $1,925.969 million in July-November (2022-23), a surge of 37.12 percent, according to latest PBS data.
The food products that contributed in the positive growth in of food trade included rice, the exports of which increased by 49.37 percent, from $749.407 million last year to $1,119.406 million during the ongoing fiscal year.
Likewise, the exports of fruits increased by 15.27 percent, from $111.160 million to $128.139 million, leguminous vegetables by 79.01 percent, from $0.047 million last year to $0.084 million and spices by 19.21 percent, from $37.898 million to $45.179 million.
The exports of oil seeds, nuts and kernals increased by 263.82 percent, from $226.47 million to $350.378 million, sugar by 100 percent, from zero exports to $21.070 million, meat and meat preparations by 21.81 percent, from $160.657 million to $195.701 million.
The food products that witnessed negative growth in the trade included fish and fish preparations, the exports of which declined by 12.87 percent, from $185.802 million to $161.896 million, vegetables by 27.15 percent, from $121.800 million to $88.728 million and tobacco by 31.23 million, from $24.357 million to $16.750 million.
The exports of all other food items increased from $438.537 million to $513.574 million, an increase of 17.11 percent, according to PBS data.
Meanwhile, on year on year basis, the food exports during the month of November 2023 increased by 60.65 percent to $696.183 million compared to exports of $433.365 million, showing growth of 60.65 percent.
On month-on-month basis, the food exports increased by 4.85 percent in November 2023 when compared to the exports of $663.984 million in October 2023.
It is pertinent to mention here that country’s merchandize trade deficit contracted by 33.59 per cent during the first five months of the current fiscal year compared to the corresponding period of last year.
The Trade deficit from July-November (2023-24) was recorded at $9.378 billion as against the deficit of $14.122 billion in July–November (2022-23), showing negative growth of 33.59 per cent.
During the period under review, the exports increased by 1.93 per cent to $12.172 billion compared to the exports of $11.942 billion during the corresponding period of last year, according to the latest PBS data.
On the other hand, the imports narrowed by 17.32 per cent and were recorded at $21.550 billion compared to $26.064 billion last year.
