Food exports decline 7.64pc, imports surge 52pc in 1HFY21

ISLAMABAD: Pakistan’s food group exports declined 7.64pc year-on-year (YoY) to $2.03 billion during the first six months (July-December) of the current financial year (2020-21).

According to data released by the Pakistan Bureau of Statistics, the food group contributed around 17pc to the total exports of the country during 1HFY21.

Rice, fruits and fish & fish preparations were the major sources of foreign exchange earnings, as their exports clocked in at $963 million, $223 million and $195 million, respectively, during the period under review.

In terms of percentage, the export of rice and fish & fish preparations declined by 6.74pc YoY and 13.32pc YoY, respectively, whereas that of fruits witnessed a meagre growth of 1.84pc YoY during 1HFY21.

Article continues after this advertisement

As per the data, the export of food products in December 2020 increased 11.83pc YoY and 21.44pc MoM to $494 million.

On the other hand, food imports surged 52pc YoY to $3.90 billion during July-Dec FY21 as compared to the same period of FY20. Data showed that the import of milk and dairy products increased 19.56pc YoY to $91 million during 1HFY21 (27,267 metric tonnes).

During the period under review, Pakistan imported 1,629,769 metric tonnes of palm oil at a cost of $1.11 billion, which was 32pc higher than the same period of the last year. A sharp increase was also seen in tea imports, which jumped 25pc YoY to $285 million.

In the month of December 2020, food group imports clocked in at $886 million i.e. around 85.5pc YoY and 20.3pc MoM higher than Dec 2019 and Nov 2020.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Must Read

PSW to enable Pakistan in becoming int’l trade, transit hub: Tarin

ISLAMABAD: The Federal Minister for Finance and Revenue Shaukat Tarin has said that Pakistan Single Window (PSW) will enable Pakistan to unlock its potential...