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Food Group: Exports surge by 26% MoM, Imports up by 29% MoM in Nov’20

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December 18, 2020 (MLN): The trade volume of food exports from the country in November’20 stood at $408 million, showing an increase of 2.69% YoY and 26% MoM as compared to the same period of last year and last month respectively.

According to the latest data issued by the Pakistan Bureau of Statistics, the imports of the food group into the country were recorded at $736 million i.e. around 45.72% YoY and 29.24% MoM higher against to the same period of last year and last month respectively.

The food group contributed 15.78% of the total exports during July-Nov FY21 which clocked in at $1.54 billion, showing a decrease of 12.44% YoY when compared to the same period last year. While the group accounted for almost 15.5% of the total imports during 5MFY21 as per the data released by the Pakistan Bureau of Statistics, up by 45% YoY to clock in at $3.02 billion.

On the exports side, Rice and Fish & Fish Preparations were the major sources of Foreign exchange earnings as their exports valued at $231 million and $44 million, depicting a significant increase of 66% MoM during Nov’20 where the major growth was recorded in Basmati rice, up by 57% MoM. The other export food commodity, Meat and Meat Preparations also witnessed a significant upsurge of 22% MoM while Fruits’ exports came down by 16% MoM, during Nov’20.

On the imports side, the data from the Pakistan Bureau of Statistics revealed that imports of milk and dairy products plunged by around 43% MoM, which amounted to 3,982 metric tons, valued at $9.94 million during Nov’20.

One of the major imported food commodities is Palm Oil which recorded a growth of 154% MoM, valued at $213 million during Nov’20. while a meagre decline was seen in tea imports as it dropped by around 6.5% MoM to stand at $44 million during the said period when compared to the previous month.

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Posted on: 2020-12-18T17:45:00+05:00

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