INP-WealthPk

Food Exports Surge by 27% in Fy22

November 19, 2021

ISLAMABAD, Nov 19 (INP-WealthPK): Food exports registered an increase of 26.91% during the first four months of the financial year 2021-22 compared to the corresponding period of last year. Food items valuing $434.398 million were exported during July-October 2021-22 compared to $1130.250 million exports in July-October period of 2020-21, latest data released by Pakistan Bureau of Statistics shows. Rice exports increased by 19.04% to $594.528 million from $499.442 million, tobacco products exports rose to $11.420 million from $8.375 million, showing an increase of 36.36%. Fruits exports rose by 21.29% to $143.242 million from $118.101 million. Vegetables exports posted a small increase of 2.01% to $68.372 million from $67.028 million. Spices exports also surged by 18.83% to reach $31.391 million from $26.417 million. Exports of oilseeds, nuts and kernels increased by 804.52% to $84.853 million from $9.381 million. Meat and meat products exports surged by 2.60%, going up from $101.907 million of last year to $104.558 million this year. All other food items export rose by 68.81%, going up from $177.510 million to reach $299.650 million during the first four months of this fiscal compared to the corresponding period of last year. Commodities posting negative growth in exports included fish and fish products, decreasing by 21.05% to $96.384 million from $122.089 million. Meanwhile, year-on-year basis, the food group exports also increased by 28.16% to reach $414.720 million during October 2021 compared to the exports of $323.590 million in the same month of last year. On yearly basis, exports of rice increased by 22.99%, fruits 15.80%, tobacco 19.48 %, spices 26.29 %, oilseeds, nuts and kernels 664.10% and all other food items by 58.86%. However, exports of fish and fish products decreased by 9.72%, vegetables 26.66% and meat and meat products by 0.96%. On month-on-month basis, exports of food commodities also increased by 15.41% in October 2021 compared to exports of $359.331 million in September 2021. On monthly basis, exports of rice rose by 19.87%, fish and fish products 23.16%, fruits 7.46%, vegetables 47.61%, tobacco 30.13%, oilseeds, nuts and kernels 21.35% and all other food items by 10.51%. However, exports of meat and its products decreased by 8.56% and spices by 12.97%. The country’s total merchandise exports surged by 24.94% during the July-October period of the ongoing fiscal year compared to the corresponding period of last year. Exports during the period were recorded at $9.462 billion against exports of $7.573 billion of the same period last year. While, imports also surged by 65.40% growing from $15.176 billion last year to $25.101 billion during the current fiscal, the PBS data shows.