ISLAMABAD: The food imports witnessed an increase of 5.43 percent during the first five months of the current fiscal year, compared to the corresponding period of last year.
According to the latest data of the Pakistan Bureau of Statistics (PBS), food imports during July-November (2016/2017) were recorded at $2.340 billion compared to the imports of $2.219 billion during July November (2015/2016).
Among the food products, the import of milk cream and milk food for infants increased by 7.53 percent by going up from $95.575 million last year to $102.773 million this year.
Similarly, the import of dry fruits and nuts increased from $54.883 million to $69.179 million this year, showing an increase of 26.05 percent, while the import of pulses (leguminous vegetables) increased by 32.18 percent by going up from $218.351 million to $288.607 million.
The food items which showed declining trend in trade included tea, imports of which fell by 7.55 percent from $225.625 million to $208.597 million. Import of spices decreased by 7.5 percent from $56.879 million to $52.612 million, while the imports of soybean oil declined by 33 percent from $85.526 million to $57.303 million.
Palm oil imports also witnessed negative growth of 6.92 percent by falling from $720.389 million to $670.563 million, while the imports of sugar decreased by 39.38 percent from $3.669 million to $2.224 million.
On year on year basis, the food imports increased by 7.88 percent during the month of November 2016 compared to November 2015. The food imports during November 2016 were recorded at $511.346 million as compared to the imports of $474.004million in November 2015, the data revealed.
On month on month basis, the food imports into the country increased by 8.86 percent in November 2016 when compared to the imports of $469.710 million during October 2016, the PBS data revealed.
The country’s overall imports during July-November (2015/2016) stood at $19.940 million, compared to the imports of $18.345 billion in July-November (2015/2016).
On the other hand, the exports from the country witnessed negative growth of 3.93 percent by falling from $8.524 million last year to $8.189 million this year.
Based on the figures, the trade deficit during the first five months of the current fiscal year was recorded at $11.751 billion compared to the deficit of $9.821 billion, showing an increase of 19.65 percent.
