ISLAMABAD, Pakistan: The imports of food products into the country decreased by 16.17 percent during the first quarter of the current fiscal year (2015-16) compared to the imports of the same period of last year.
The overall import of food products stood at $1.198 billion in July-September (2015-16) compared to the imports of $1.430 billion in July-September (2014-15), showing negative growth of 16.17 percent, according to the trade data released by Pakistan Bureau of Statistics (PBS) here.
Among the food product, the major decline was recorded in the trade of wheat (unmilled), imports of which decreased by 100 percent during the period under review.
The data revealed that there has been zero imports of wheat during the current year compared to the imports of $74.850 million during the last fiscal year.
The other products that witnessed negative growth in trade included palm oil, imports of which decreased from $481.689 million last year to $437.783 million during the current year, showing decline of 9.12 percent.
Meanwhile, the imports of milk, cream and milk food for infants increased by 7.53 percent by going up from $54.726 last year to $58.846 million this year whereas the imports of dry fruits and nuts increased from $25.486 million to $32.477 million, showing positive growth of 27.43 percent.
The imports of tea and spices also increased by 45.38 percent and 33.38 percent respectively during the period under review. The tea imports into the country increased from $83.477 million to $121.360 million whereas the imports of spices increased from $23.900 million to $31.879 million.
The imports of soyabean oil increased from $32.218 million in the first quarter of last fiscal year to $36.951 million during the current year, showing increase of 14.69 percent.
According to the PBS data, the imports of sugar increased by 165.61 percent during the period under review by going up from $1.073 million last year to $2.850 million this year.
Imports of pulses (leguminous vegetables) also increased by 46.56 percent, by going up from $93.557 million to $137.120 million.
However, the imports of all other food products decreased by 39.25 percent and reached to $339.676 million during the first quarter of the current year compared to the imports of $559.153 million during the same quarter of last fiscal year.
Meanwhile, on year-on-year basis, the food imports into the country declined by 27.76 percent by going down from $596.216 million in September 2014 to $430.730 million in September 2015.
On month-on-month basis, the food imports witnessed nominal decrease of 0.50 percent in September 2015 when compared to the imports of $432.678 million during August 2015, the data revealed.
It is pertinent to mention here that during the first quarter of the current fiscal year, the overall trade deficit narrowed by 15.03 percent as revealed by the PBS data, owing to decline in imports as well as exports.
The imports during the period stood at $10.656 billion in July-September (2015-16) whereas the exports from the country stood at $5.155 billion during the period.
Based on the figures, the trade deficit was recorded at $5.501 percent during current year compared to the deficit of $6.474 billion during the corresponding period of last year, showing decline of 15.03 percent.
Source: APP
