ISLAMABAD - Rice exports from the country during first eight months of current financial year increased by 11.09% as compared the exports of the corresponding period of last year.
During the period from July-February, 2019-20, about 2,763,171 metric tons of rice worth $1.397 billion was exported as against the exports of 2,497,536 metric tons valuing $1.257 billion of same period last year.
According the data released by Pakistan Bureau of Statistics, exports of basmati rice grew by 36,56% as above mentioned commodity worth $501.179 million was also exported as compared to exports of $366.765 million of same period of last year.
In last 8 months, country exported about 566,711 metric tons of basmati rice as compared to exports of 370,248 metric tons of same period last year, the data revealed.
Meanwhile, country managed to export about 2,196,460 metric tons of rice other then basmati worth of $896.312 million as against the exports of 2,127,288 metric tons valuing $891.230 million of same period last year, it added.
The exports of rice other then basmati in last 8 months of current financial year grew by 0.57% as compared to exports of the corresponding period of last year, it added.
It may be recalled here that overall food group exports from the country during last 8 months grew by 5.48% as food commodities worth $3.033 billion were exported as against $2.875 billion of same period last year.
On month on month basis, the food group exports also witnessed 4.09% growth in month of February, 2020 as country fetched $424.748 million by exporting the food commodities, which was recorded at $408.072 million of same month of last year.
On the other hand, food group imports into the country also decreased by 8.07% as it came down from $3.868 billion of first 8 months of last financial year to $3.556 billion in 8 months of current financial year.
Meanwhile, the tea imports into the country decreased by 17.59 percent during the first eight months of the current fiscal year against the imports of the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.
The tea imports into the country were recorded at $324,372 million during July-February (2019-20) against the imports of $ 393,585 million during July-February (208-19), showing decrease of 17.59 percent, the PBS data revealed.
In terms of quantity, the tea imports into the country decreased by 9.80 percent by falling from imports f 149,510 metric tons to 134,853 metric tons.
Meanwhile, on year-on-year basis, the tea imports during February 2020 increased by 6.28 percent as compared to the imports of February 2019. The tea imports during February 2020 were recorded at $ 49,234 million against the imports of $46,281 million in February 2019.
On month-on-month basis, the tea imports into the country increased by 6.55 percent during February 2020 when compared to the imports of $46,206 million in January 2019.
It is pertinent to mention here that the trade deficit during the first eight month of the current fiscal year reduced by 26.06 percent as compared to the corresponding period of last year.
The trade deficit during July-February (2019-20) was recorded at $15.872 billion against the deficit of $21.467 billion during July-February (2018-19), the PBS data reveaald.
The exports from the country during the period increased by 3.62 percent by going up from $15.097 billon last year to $15.643 billion during the current year whereas the imports into the country declined by 13.81 percent, from $36.563 billion to $31.515 billion.395