Fish exports up by 14.57pc to $451.026m

0
153
A vendor arranges fish for sale at a market in Hyderabad on November 4, 2011. Indian Finance Minister Pranab Mukherjee admitted late last month that food inflation had risen to dangerous levels as prices surged more than 12 percent year on year. The rate of 12.21 percent in the week ended October 22 was up from the previous week, when it stood at 11.43 percent, according to data from the government. AFP PHOTO/Noah SEELAM (Photo credit should read NOAH SEELAM/AFP/Getty Images)

ISLAMABAD: The exports of fish and fish preparations surged by 14.57 per cent during the fiscal year 2017-18 as compared to the corresponding period of last year.

Seafood exports during July-June (2017-18) were recorded at $451.026 million against the exports of $393.662 million in July-June (2016-17), showing a growth of 14.57 per cent, according to latest data from the Pakistan Bureau of Statistics (PBS).

In terms of quantity, Pakistan exported 198,420 metric tons during the period under review against the exports of 155,091 last year, showing growth of 27.94 per cent.

However, on year-on-year (YoY) basis, the fish exports from the country declined by 7.31 per cent by going down from $29.181 million during June 2017 to $27.047 million in June 2018.

On a month-on-month (MoM) basis, seafood exports decreased by 48.41 per cent in July 2018 when compared to the exports of $52.431 million in May 2018, the PBS data revealed.

The overall food exports from the country surged by 29.28 per cent during the outgoing fiscal year 2017-18. 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 a growth of 29.28 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.

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.