Food imports into Pakistan down 8.2% year-over-year during first nine months of current fiscal year to value of US$3.08B, according to government statistics

ISLAMABAD , April 23, 2014 () – Food imports into the country decreased by 8.22 percent during the first nine months of the current fiscal year as compared to the corresponding period of las year. The food imports into the country during July-March (2013-14) were recorded at $3.076 billion against the imports of $3.35 billion during July-March (2012-13), according to the latest figures of Pakistan Bureau of Statistics (PBS). The food commodities that contributed in the negative trade of food products included tea, imports of which decreased by 25.22 percent by falling from $296.159 million last year to $221.678 million during the current year. The imports of palm oil also decreased from $1.543 billion to $1.367 billion, showing decline of 11.41 percent while the imports of pulses leguminous vegetables) decreased from 269.114 million to $214.792 million, showing negative growth of 20.19 percent, the data revealed. Similarly the imports of all other food items decreased by 13.36 percent by falling from $979.617 million last year to $848.704 million this year. On the other hand, the food commodities that witnessed upward trend in trade included milk, cream and milk food for infants, imports of which increased by 18.59 percent by going up from $100.388 million last year to $119.053 million this year. The imports of wheat unmilled witnessed cent percent increase as its imports were recorded at $107.234 million this year against the zero imports of last year while the imports of dry fruits and nuts increased by 26.26 percent by expanding from $58.009 million to $73.241 million. Imports of spices increased from $51.874 million to $61.507 million, an increase of 18.57 percent while the imports of soyabean oil increased from $49.129 million to $57.931 million, thus showing an increase of 17.92 percent. Similarly the import of sugar also increased from $3.654 million to $4. 838 million showing an increase of 32.4 percent. Meanwhile, the food imports on year-on-year basis increased by 9.2 percent and 10.27 percent in March 2014, when compared to that of March 2013 and February 2014. The food imports increased from $319.991 million in March 2013 and $316.884 million in February 2014 to $349.427 million in March 2014, the data revealed. It is pertinent to mention here that the country's overall trade deficit narrowed by 5.49 percent during first three quarters of current fiscal year as exports expanded by 6.06 percent while imports witnessing slight growth of 0.86 percent as compared to the same period of last year. On year-on-year basis, the trade deficit decreased by 11.98 percent in March 2014 when compared to the deficit of the same month of last year, according to the latest data of Pakistan Bureau of Statistics (PBS) 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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