Spices export increase over 9% to $10.896 mln

October 11, 2019: The exports of spices from the country witnessed an increase of 9.53 percent during the first two month of current financial year 2019-20, against the exports of the corresponding period of last year.

The spices exports from the country were recorded at $10.896 million during July-August (2019-20) against the exports of $9.948 million during July-August (2018-19), according to the data of Pakistan Bureau of Statistics (PBS).

In terms of quantity, the exports of spices witnessed an increase of 10.33 percent by going up from 2,323 metric tons to 2,563 metric tons, according to the data.

Meanwhile, on-year-on-year basis, the export of spices, however witnessed declined of 10.21percent during the month of August 2019 when compared to the same month of last year.

The exports of spices from the country during August 2019 were recorded at $4.896 million against the exports of $5.453 million in August 2018.

On month-on-month basis, the exports of spices reduced by 18.40 percent during August 2019 when compared to the exports of $6.000 million in July 2019, the PBS data revealed.

It is pertinent to mention here that the trade deficit during first two months of the current fiscal year dipped by 35.86 percent as compared to the corresponding period of last year.

The trade deficit during July-August (2019-20) was recorded at US $ 3.924 billion against the deficit of US $ 6.118 million in July-August (2018-19), the data revealed.

During the period under review, the exports from the country increased by 2.79 percent, from US $ 3.651 billion last year to US $ 3.753 billion during the current year.

On the other hand, the imports witnessed negative growth of 21.41 percent by falling from US $ 9.769 billion last year to US $ 7.677 billion this year.

APP