Tea imports slip by 1.12 percent to $393.5 million in 8 months

March 26, 2019: The tea imports into the country during July-February (2018-19) were recorded at $393.585 million compared to the imports of $398.041 million in July-February (2017-18), showing decline of 1.12 percent, according to the data of Pakistan Bureau of Statistics (PBS).

In terms of quantity, the tea imports however increased by 16.15 percent during the period under review by going up from 130,062 metric tons last year to 151,071 metric tons during the current fiscal year.

The overall food imports into the country during the period under review witnessed decrease of 8.25 percent during the period. The food imports during the first eight months of the current fiscal year were recorded at $3868.606 million against the imports of $4216.516 million, the data revealed.

Meanwhile, on year-on-year basis, the tea imports into the country decreased by 20.28 percent in February 2019 when compared to the imports of same month of last year.

The tea imports into the country during February 2019 were recorded at $46.279 million in February 2019 against the imports of $58.049 million in February 2018.

In terms of quantity, the tea imports into the country also decreased from 19,915 metric tons in February 2018 to 19,055 metric tons, showing decline of 4.32 percent, the data revealed.

Meanwhile, on month-on-month basis, the tea imports into the country increased by 1.51 percent in February 2019 when compared to the imports of $45.589 million in January 2019.

In terms of quantity, the tea imports witnessed an increase of 1.8 percent in February 2018 when compared to the imports of 18,718 metric tons in January 2019, according to the PBS data.

It is pertinent to mention here that the country's merchandize trade deficit plunged by 11.03 percent during July-February (2018-19) as the deficit contracted by over $2.668 billion to $21.523 billion during the first eight months against the deficit of $24.191 billion the previous year.

The exports during the period under review witnessed an increase of 1.85 percent to $15.113 billion from $14.838 billion whereas the imports declined by 6.13 percent to $36.636 billion from $39.029 billion recorded during eight months of current fiscal year, the data revealed.

(APP)