Food Group Exports achieve highest ever growth in 15 years

According to latest data released by the Pakistan Bureau of Statistics, total food group exports during the month of March went up by more than 70 percent reaching their highest in 15 years with exports in vegetables up by 147 percent and wheat exports higher by 100 percent.

The total food group exports clocked in at $ 589.122 million during the period with more than 41 percent of entire food group exports coming from rice exports.

Rice Group Exports, MG Link News, Mettis Global

Rice exports during March went up by 69 percent clocking in at $36.313 million with basmati rice exports up by 19.21 percent and exports for other total varieties of rice increasing by 19 percent reaching $179.506 million.

Furthermore, following rice subset, major percent of total food group exports came from Sugar which made up of around 17 percent of the entire exports in the food sector. Total Sugar Exports during the month of March, 2018 were the highest ever in last 15 years reaching a total $83.172 million. Sugar Exports have grown remarkably during the last eight months from $10.452 million September, 2017 million to $83.172 million in March, 2018; posting a mammoth 695 percent increase.

Amongst other major food group components, Fish and Fish Preparations exports also posted a significant increase of 42.67 percent with total receipts clocking in at $51.338 million.

However, exports in tobacco group and Oil, Seeds, Nuts and Kernals group both went down by more than 50 percent amid declining growth.

On the balance of trade front, total exports during the month of March reached their highest level in three years, after total exports reached a sum total of $2.231 billion up from $1.902 billion last year.