Vegetable imports fall 13.2pc in FY19

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ISLAMABAD: The import of vegetable products into the country decreased by 13.20pc during the financial year 2018-19 as compared to the corresponding period of last year, the State Bank of Pakistan (SBP) reported.

The vegetable imports into the country during July-June 2018-19 were recorded at $2.47 billion as against the import of $2.85 billion during July-June 2017-18.

The food commodities that hampered the country’s imports included edible vegetables, imports of which dipped 20.42pc, from $518.534 million last year to $412.634 million during the period under review.

The import of coffee, tea, mate drink and spices decreased by 11.69pc, from $718.257 million to $634.238 million, while the import of oil seeds and oleaginous fruits fell by 7.74pc, from $1.33 billion to $1.23 billion.

Similarly, the imports of cereals declined by 11.15pc, from $99.745 million to $88.617 million, whereas the import of edible fruits and nuts decreased by 66.677pc, from $108.478 million last year to $36.155 million.

On the other hand, the import of milling (industry) equipment witnessed a growth of 2.55pc, from $21.133 million to $21.804 million, while the import of other vegetable saps and extracts increased by 7.52pc, from $19.260 million to $20.709 million.

It is pertinent to mention that the country’s merchandise trade deficit plunged by 15.33pc during the fiscal year 2018-19 as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.

The trade deficit contracted to $31.820 billion during July-June 2018-19, as against the deficit of $37.583 billion recorded during July-June 2017-18.

The exports during the period under review witnessed a decrease of one per cent, from $23.212 billion in FY18 to $22.979 billion in FY19. The imports also declined by 9.86pc to $54.799 billion during the period under review, as compared to $60.795 billion last year.

On a year-on-year basis, the merchandise exports declined by 8.77pc, from $1.882 billion in June 2018 to $1.717 billion in June 2019, while the imports declined by 22.80pc, from $5.652 billion in June 2018 to $4.364 billion in June 2019.

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