Fish exports decline 6pc to $348.484mln in 10 months

May 31, 2019: The exports of fish and fish preparations decreased by 6.21 percent during the fiscal year 2018-19 as compared to the corresponding period of last year.

The seafood exports during July-April (2018-19) were recorded at $348.484 million against the exports of $371.548 million in July-April (2017-18), showing negative growth 6.21percent, according to Pakistan Bureau of statistics (PBS).

In terms of quantity, Pakistan exported 153,061 metric tons seafood during the period under review against the exports of 163,632 metric tons last year, showing decrease of 6.46 percent.

On year-on-year basis, the fish exports from the country declined by 2.4 percent by going down from $55.934 million during April 2018 to $54.589 million in April 2019.

On month-on-month basis, the seafood exports however, increased by 18.94 percent in April 2019 when compared to the exports of $45.895 million in March 2019, the PBS data revealed.

The overall food exports from the country decreased by 4.13 percent during the first ten months of current year compared to last year.

The food exports from the country were recorded at $3806.954 million during July-April (2018-19) against the exports of $3971.005 million during July-April (2017-18).

It is pertinent to mention here that the country’s overall merchandize trade deficit plunged by 12.82 percent during the first ten months of the current fiscal year compared to the corresponding period of last year.

The trade deficit contracted by $3.867 billion to $26.302 billion during July-April (2018-19) against the deficit of $30.169 billion recorded during July-April (2017-18).

The exports during the period under review witnessed nominal decrease of 0.12% by falling from $19.191 billion during last year to $19.169 billion during the ongoing fiscal year.

On the other hand, the imports declined by 7.88% to $45.471 billion during the period under review from $49.360 billion last year, the data revealed.

(APP)