Pakistan’s food group exports increased by 48.17% during the first nine months (July-March) of the current financial year (2023-24) as compared to the exports of the corresponding period of last year.
According to the data released by the Pakistan Bureau of Statistics (PBS), Pakistan exported food commodities valued at $5.651 billion during the period from July-March FY24, as against the exports of $3.814 billion in the same period of the last year.
On a year–on–year basis, the food group exports increased by 16.35% going up from $ 588.759 million in March 2023 to $ 685.025 million in March 2024.
On a month-on-month basis, food exports, however, decreased by 2.36% when compared to the exports of $ 701.565 million in February 2024.
PBS data shows that rice exports increased by 83.37% and over 4.550 million tons of rice worth $2.930 billion were exported in nine months of FY24 as compared to the exports of 2.939 million tons valued at $1.598 billion in the same period of last year.
Meanwhile, the exports of fruits grew by 17.34% and vegetables by 42.79% as 782,155 metric tons of fruits and 906,836metric tons of vegetables valued at $265.655 million and $94.896 were exported during the period under review, the data revealed.
Similarly, the exports of tobacco increased by 19.99% and spices by 19.90% respectively as 16,968 metric tons of tobacco worth $61.576 million and 29,011 metric tons of spices valued at $87.297 million were exported during nine months of the current financial year.
The exports of oil seed and nuts grew by 131.60%, whereas exports of sugar decreased by 74.63% as compared to the exports of the same period of last year.
The country earned $386.928 million by exporting about 93,508 metric tons of meat and meat products as the exports of meat and meat preparations grew by 28.24% during the period under review.
It’s great to hear that Pakistan’s food exports have experienced such significant growth, rising by 48% to $5.6 billion in the first nine months of the fiscal year 2024 (9MFY24). This increase reflects the country’s growing presence in the global food market and the demand for Pakistani food products internationally.
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