Tea imports increased by 2.21% in the first four months of the current fiscal year compared to the same months last year, the Pakistan Bureau of Statistics data shows. In comparison to the $188.304 million in imports during July–October 2021–2022, tea imports were recorded at $192.474 million during the same period in 2022–2023. The statistics showed that tea imports declined in quantity during the review period by 8.90%, going from 84,590 metric tonnes in the previous fiscal year to 77,065 metric tonnes in the same months of the current fiscal year.

In October 2022, tea imports increased by 54.09% on a year-on-year basis compared to the same month in the previous year. In contrast to its August 2021 exports of $37.169 million, the nation imported tea worth $57.272 million in October 2022. But as compared to the imports of $43.290 million in September 2022, the imports of tea grew by 32.30% month-on-month. The country imported 22,829 metric tonnes of tea in October 2022, up from 16,121 metric tonnes in October 2021 and 17,360 metric tonnes in September 2022.

This is an increase of 31.50% over September 2022 and 54.09% over October 2021. In the first four months of the current fiscal year, the total amount of food imported into the nation climbed by 9.71% to $3,431.022 million from $3,127.240 million during July to October (2021–22). In the first four months of the current fiscal year, the total amount of food imported into the country climbed by 9.71% to $3,431.022 million from $3,127.240 million during July to October (2021–22).

Over the first four months of the current fiscal year, total merchandise imports into the country fell by 16.21% from $25,084 million last year to $21,018 million during July-October (2022–23). In comparison to the exports of $9,460 million during the same time last year, they climbed by 0.94% to $9,549 million for the period. According to the data, the trade deficit decreased by 26.59% from last year's deficit of $15,624 million to this year's deficit of $11,469 million.

Credit : Independent News Pakistan-WealthPk