Pakistan imports tea worth $391mn in 7MFY24

Pakistan’s tea imports witnessed an increase of 7.58% in the first seven months (July-Jan) of the current fiscal year FY 2023-24 as compared to the imports of the corresponding period of last year. 

According to the data released by the Pakistan Bureau of Statistics (PBS), over 161.823 metric tons of tea valued at $391.408 million were imported from July to January FY24 as compared to the imports of 145,700 metric tons costing $368.820 million of the same period of last fiscal year.

On a monthly basis, tea imports increased by 22.13% as 22,072 metric tons of tea valued at $54.985 million were imported during January 2024 as compared to the imports of 17,622 metric tons worth $45.022 million in the corresponding month of last year.

However, the imports of edible oil including soybean and palm into the country during the first seven months went down by 49.85% YoY and 34.14% MoM respectively, it added.

Over 91,950 metric tons of soyabean oil valued at $99.990 million was imported compared to the imports of 136,870 metric tons costing $199.386 million in the same period last year.

Whereas, 1.735 million tons of palm oil worth $1.611 billion was imported as compared to the imports of 1.927 metric tons valued at $2.446 billion during the same period last year.

Meanwhile, the sugar imports into the country also decreased by 42.75% as about 2,260 metric tons of sugar valued at $2.10 million were imported as compared to the imports of 4,332 metric tons worth $3.67 million in the same period of last year.

It is worth mentioning here that during the period under review, food group exports from the country grew by 57.66% as different food commodities valued at $4.267 billion were exported as compared to the exports of $2.706 million in the same period of last year.

On the other hand food group imports into the country during the first seven months of the current financial year decreased by 21.09% as food imports came down from $5.983 billion in the first seven months of the last financial year to $4.721 billion during the same period of the current financial year.