SBP reports 13pc decline in vegetable goods' imports
The imports of vegetable products into the country decreased by 13.20pc during the financial year 2018-19 as compared to the corresponding period of last year, SBP reported. The vegetable product imports into the country during July-June (2018-19) were recorded at $2475.547m against the import of $2852.307m during July-June (2017-18), showing declined of 13.20pc, according to SBP report.
The food commodities that contributed in negatively growth included edible vegetables, import of which dip from $518.534m last year to $412.634m during the period under review, showing declined of 20.42pc.
The imports of coffee, tea, mate drink and spices decreased by 11.69pc, from $718.257m to $634.238m whereas the imports of oil seeds and oleaginous fruits also decreased by 7.74pc, from $1335.165m to $1231.826m.
The imports of cereals declined by 11.15pc from $99.745m to $88.617m while the imports of edible fruits and nuts decreased by 66.677pc, from $108.478m last year to $36.155m, the data revealed.
The imports of milling industry however, witnessed growth of 2.55pc, from $21.133m to $21.804m whereas the imports of other vegetable saps and extracts increased by 7.52pc, from $19.260m to $20.709m.
Meanwhile, the country's merchandize trade deficit plunged by 15.33pc during the fiscal year 2018-19 as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.
The trade deficit contracted to $31.820bn during July-June (2018-19) against the deficit of $37.583b recorded during JulyJune (2017-18).
The exports during the period under review witnessed decrease of one percent by falling from $23.212b during last year to $22.979b during the ongoing fiscal year.