Food exports surge by over 54% in 8 months, reaching an impressive $4.96 billion
Published on: March 19, 2024.
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Food Group Exports from Pakistan Show Significant Growth
During the first eight months of the current financial year, food group exports from Pakistan witnessed a remarkable increase of 54.05 percent compared to the same period last year. According to data from the Pakistan Bureau of Statistics, various food commodities worth $4.969 billion were exported from July to February 2023-24, as compared to $3.225 billion in the previous year.
Rice, one of Pakistan’s major exports, experienced substantial growth of 85.83 percent. Over 3.932 million metric tons of rice, valued at $2.517 billion, were exported during this period, compared to 2.546 million tons worth $1.354 billion in the same period last year.
Furthermore, the exports of fruits and vegetables also saw positive growth. Fruits witnessed a growth of 13.89 percent, with 688,950 metric tons valued at $246.463 million being exported. Vegetables showed an even higher growth rate of 39.27 percent, with 724,252 metric tons worth $277.064 million being exported.
Meanwhile, the imports of food commodities into the country declined by 18.33 percent during the first eight months of the current financial year, compared to the corresponding period last year. The total imports of food commodities decreased from $6.687 billion to $5.461 billion. However, on a month-on-month basis, food group imports experienced a 5.12 percent growth in February 2024, with food goods valued at $739.819 million being imported, compared to $703.722 million in the same month of the previous year.
On the other hand, the exports of food goods during the month of February 2024 showed a significant growth of 35.38 percent. Different food commodities worth $702.469 million were exported, compared to $518.871 million in the same month last year.
These statistics reflect the growing success of Pakistan’s food export industry and highlight the country’s competitiveness in the global market. With the government’s focus on promoting exports and improving trade conditions, Pakistani rice exporters, in particular, have made significant contributions to the overall growth of the food sector.
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