pakistan food exports surge by 54%, reaching $4.969b in eight months
Published on: March 18, 2024.
Filed under:
Pakistan’s Food Exports Witness Significant Growth in 2023-24 Fiscal Year
Pakistan’s food group exports have seen a remarkable increase of 54.05% during the first eight months of the current fiscal year, compared to the same period last year. According to data from the Pakistan Bureau of Statistics, the country has exported various food commodities worth $4.969 billion as opposed to $3.225 billion in the corresponding period of the previous year.
Rice exports, in particular, have surged by 85.83%. Over 3.932 million metric tons of rice, valued at $2.517 billion, were exported, showcasing a significant growth compared to the 2.546 million tons worth $1.354 billion in the same period last year.
In addition to rice, there has been positive growth in the exports of fruits and vegetables, which have increased by 13.89% and 39.27%, respectively. Pakistan exported 688,950 metric tons of fruits worth $246.463 million and 724,252 metric tons of vegetables valued at $277.064 million.
The exports of other commodities have also experienced notable growth. Pulses exports have shown an increase of 268.68%, with pulses worth $173,000 being exported. Tobacco exports have increased by 32.09% and recorded a value of $60.581 million. Additionally, the exports of spices have gone up by 21.10%, reaching $78.107 million.
On the other hand, Pakistan’s food imports have decreased by 18.33% during the same eight-month period. Imports of food commodities have dropped from $6.687 billion to $5.461 billion. However, in February 2024, monthly food imports witnessed a growth of 5.12% compared to the same month last year. Imports amounted to $739.819 million, while in February 2023, they were valued at $703.722 million.
In contrast, food exports during February 2024 have grown substantially by 35.38%. The country has exported different food commodities worth $702.469 million, compared to $518.871 million in the same month last year.
Pakistan has made significant strides in the food export sector, with rice leading the way. The increased exports reflect the country’s commitment to promoting agricultural products globally. With these positive trends, Pakistan’s food industry is poised for further growth, benefiting both the economy and the farmers.
Source: [Source](https://en.wenews.pk)
