Food exports surge 29.28pc to over $4.797 billion

Wheat exports went up from $1.038 million to $236.339 million, showing growth of 22668 per cent

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ISLAMABAD: Food exports from Pakistan surged by 29.28 per cent during the outgoing fiscal year 2017-18 against the exports of the same period of last year.

Food exports from the country were recorded at $4797.936 million during July-June (2017-18) against the exports of $3711.159 million during July-June (2016-17), showing growth of 29.28 per cent, according to the latest data of Pakistan Bureau of Statistics (PBS).

Among food products, rice exports increased by 26.78 per cent by growing from $1606.834 million last year to $2037.075 million. Among the rice varieties, exports of basmati rice increased by 19.14 per cent while the exports of other rice commodities increased by 29.78 per cent.

Meanwhile, the exports of fish and fish preparations from the country increased by 14.57 per cent by growing from $393.662 million to $451.026 million while the exports of fruits increased by 5.08 per cent by going up from $184.016 million to $241.426 million.

Likewise, vegetable exports increased by 30.56 per cent, from $184.916 million to $241.426 million whereas the tobacco exports increased by 76.01 per cent, from $14.813 million to $26.073 million.

Sugar exports from the country increased by 215 per cent, from $161.039 million to $508.333 million while wheat exports went up from $1.038 million to $236.339 million, showing growth of 22668 per cent.

Exports of meat and meat preparation increased by 2.26 per cent by growing from $220.662 million last year to $225.646 million during July-June (2017-18), the PBS data revealed.

The food products that witnessed negative growth in exports included leguminous vegetables, exports of which declined. The exports of oil seeds, nuts and kernels also decreased by 21.35 per cent

It is pertinent to mention here that the overall merchandise exports from the country surged by 13.74 per cent during the fiscal year 2017-18 as compared to the previous fiscal year (2016-17).

The exports from the country during July-June (2017-18) were recorded at $23.228 billion against the exports of $20.422 billion in July-June (2016-17), showing growth of 13.74 per cent, according to the latest data of Pakistan Bureau of Statistics (PBS).

Imports into the country during the period also increased by 15.10 per cent by going up from $52.910 billion in FY 2016-17 to $60.898 billion during FY 2017-18.

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.