Tea imports in Pakistan fall 26.7% year-over-year in value terms in fiscal H1 to US$133.9M; imports drop 1.9% in quantity terms to 59,606 tonnes

ISLAMABAD , January 30, 2014 () – Tea imports witnessed sharp fall of 26.7 percent during the first half of the current fiscal year (2013-14) as compared to the imports of the commodity during the corresponding period of last year. According to the latest data of Pakistan Bureau of Statistics, the tea imports were recorded at $133.949 million in July-December (2013-14) against the imports of $182.743 million during July-December (2012-13). In terms of quantity, the import the tea imports reduced by 1.91 percent by falling from 60,765 metric tons to 59,6060 metric tons. On year-on-year basis, the tea imports into the country decreased by 27.25 percent in December 2013 when compared to the imports of December 2012. According to the data, the tea imports during December 2013 were recorded at $25.474 million against the imports of $35.017 million in December 2012. On month-on-month basis, the tea imports, however increased by 22.04 percent in December 2013 when compared to the imports 20.873 million in November 2013, the PBS data revealed. The overall food imports into the country during the first half of the current fiscal year decreased by 6.98 percent as compared to last year. The food imports during the first half of the year were recorded at $2.011 billion against the imports of $2.162 billion lat year, the data revealed. It is pertinent to mention here that Pakistan's overall trade deficit narrowed by 8.75 percent during the first half of the current fiscal year as exports expanded by 5.11 percent while imports decreased by 1.14 percent as compared to the same period of last year. The exports from the country during July-December (2013-14) were recorded at $12.639 billion against the exports of $12.024 billion recorded during July-December 2012-13. On the other hand, the imports into the country during the first half of the current fiscal year were recorded at $21.671 billion against the imports of $21.922 billion during the corresponding period of last year, showing decrease of 1.14 percent. Based on the figures, the trade deficit during July-December (2013-14) was recorded at $9.032 billion against the deficit of $9.898 billion in July-December (2012-13), showing negative growth of 8.75 percent Published by HT Syndication with permission from Right Vision News. For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com

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