The exports of fish and fish preparations increased by 12.23% during the first half of the current fiscal year (2022-23) compared to the corresponding period of last fiscal year (2021-22), WealthPK reported. According to Pakistan Bureau of Statistics (PBS), the country earned $224.982 million from seafood exports during July-December FY23 against $200.473 million during July-December FY22. In terms of quantity, the exports of fish and fish preparations increased by 18.61% to 88,517 metric tons during the period under review from 74,626 metric tons during the corresponding period of last year.

On a year-on-year (YoY) basis, seafood exports decreased by 21.54% to $39.206 million in December 2022 from $49.971 million during December 2021. In terms of quantity, the exports witnessed a 5.67% decrease, going down from 17,895 metric tons last year to 16,880 metric tons this year.

On a month-on-month (MoM) basis, seafood exports declined by 23.42% in December 2022 compared to $51.198 million in November 2022. In terms of quantity, fish exports went down by 18.71% in December 2022 compared to 20,382 metric tons in November 2022, the PBS data shows.

The overall food exports from the country were recorded at $2.325 billion during July-December FY23 against $2.481 billion during July-December FY22, showing a negative growth of 6.27%. The trade deficit witnessed a decline of 32.65% during the first half of the current fiscal year compared to the corresponding period of last fiscal year. The trade deficit during July-December FY23 was recorded at $17.133 billion against $25.438 billion in July-December FY22.

Exports during the period under review were recorded at $14.249 billion against $15.125 billion last year, showing a decline of 5.79%. On the other hand, imports during the said period witnessed a sharp decline of 22.63% from $40.563 billion last year to $31.382 billion during the current fiscal year.

Credit: Independent News Pakistan-WealthPk