Tea Imports
ISLAMABAD: Amid a severe economic crisis, Pakistan’s tea imports surged during the first eight months of the current financial year, rising by 10.13% compared to the same period last year.
Data from the Pakistan Bureau of Statistics (PBS) reveals that 180,509 metric tonnes of tea valued at $436.677 million were imported from July to February 2023-24, compared to 161,056 metric tonnes worth $395.489 million during the corresponding period of the previous year.
On a monthly basis, tea imports saw a substantial increase of 38.53%, with 18,685 metric tonnes valued at $45.269 million imported, compared to 15,365 metric tonnes worth $32.678 million in the same month of the previous year.
However, the country experienced a decline in imports of edible oils, including soyabean and palm oil, during the review period.
Palm oil imports decreased by 48.10%, amounting to $1.810 billion compared to $2.681 billion last year, with 1.959 million metric tonnes imported versus 1.115 million metric tonnes previously.
Similarly, soyabean oil imports also dropped by 48.10%, with 97,455 metric tonnes valued at $105.664 million compared to 140,120 metric tonnes worth $203.578 million last year.
On a monthly basis, soyabean oil imports increased by 35.34%, while palm oil imports saw a marginal increase.
In February 2024, palm oil imports amounted to 224,074 metric tonnes valued at $199.078 million, slightly lower than the imports in the same period last year.
Despite challenges in the economy, Pakistan experienced significant growth in food exports, with the food group exports increasing by 54.05% compared to the same period last year, reaching $4.969 billion.
Conversely, imports of food commodities decreased by 18.33%, totaling $5.461 billion during the first eight months of the current financial year.
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