Food imports drop 19.48% in first half of FY2023-24

Food exports increase to $3.48 billion, registering a growth of 49.84% in July-December 

The Pakistan Bureau of Statistics (PBS) released data showing a decline in food group imports and an increase in exports from July to December 2023 of the current financial year.

Food commodity imports saw a decrease of 19.48% from July to December 2023, compared to the same period the previous year.

The total cost of imported food items amounted to $3.96 billion, down from $4.91 billion recorded last year.

In contrast, the country experienced a surge in food group exports during the same period, registering a growth of 49.84%.

Exports of various food commodities amounted to $3.48 billion, surpassing the $2.323 billion recorded in the corresponding period of the previous year.

Significant declines were observed in the imports of milk cream (down 25.93% to $60.298 million), unmilled wheat (down 34.84% to $39.126 million), soybeans (down 41.20% to $91.147 million), and palm oil (down 33.35% to $1.388 billion).

Sugar imports also saw a sharp decline of 49.43%, amounting to $1.69 million compared to $3.35 million in the same period last year.

These contrasting trends underscore Pakistan’s evolving position in the global food market.

The reduction in imports may reflect domestic efforts towards self-sufficiency and economic optimization, while the surge in exports signals growing competitiveness and demand for Pakistani food products on the international stage.




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