Food group trade deficit plunges by 25.6% in 1HFY19

February 1, 2019: The country's food group trade deficit shrank by 25.6 percent to $972.068 million during first half of current fiscal year compared to trade deficit of $1.3 billion recorded during same period of previous year.

The food group import during July-December (2018-19) recorded a decline of 8.49 percent as it fell to $2.967 billion as compared to the import of $3.242 billion during same period of previous year, a latest data issued by Pakistan Bureau of Statistics (PBS) said.

Similarly the export of food group from the country recorded an increase of 3.09 percent as it rose to $1.995 billion against the export of $1.935 billion during July-December (2017-18).

The export of fruits surged to $222.164 million in the corresponding period of current fiscal year from $180.146 million during same period of last year, showing an increase of 23.32 percent.

Similarly export of vegetables also recorded a sharp increase pf 42.55 percent as it rose to $90.823 million from $63.712 million in Jul-Dec (2017-18).

The wheat export also increased sharply to $97.237 million during the period under review as compared to the export of only $45,000.

The spices export increased by 10.15 percent to $40.198 million from $36.492 million, whereas export of oil, seeds, nuts, and kernals posted an increase of 157.91 percent as it increased from $22.005 million to $56.7 million in Jul-Dec (2018-19).

The export of rice however decreased by 2.43 percent to $828.968 million against the export of $849.634 million in same period of last year, while export of fish and fish preparations also fell to $183.691 million compared to export of $200.621 million, showing a decline of 8.44 percent, the data revealed.

Meanwhile import of milk, cream and milk food decreased by 16.71 percent to $104.44 million from $125.389 million in July-December (2017-18), whereas import of dry fruits and nuts also plunged by 75.31 percent as it fell from $87.217 million last year to $21.532 million this year.

The import of palm oil also decreased by 10.19 percent to $931.659 million during the period under review from $1.037 billion in same period of last year.

(APP)