Seafood Exports Inflated 8% to $317.307 Million in 3 Quarters

During the first three quarters of the current fiscal year, exports of fish and fish preparations increased by 7.97 percent compared to the same duration last year.

As per the Pakistan Bureau of Statistics, exports were reported at $317.307 million during July-March (2019-20) compared with exports at $293.895 million in July-March (2018-19), showing the growth of around 8%.

In terms of quantity, during the period under review, Pakistan exported 133,226 metric tons of seafood against last year’s exports of 129,704 metric tons, showing a rise of 2.72 percent.

However, the country’s fish exports dropped by 15.74 percent from $45.895 million in March 2019 to $38.669 million in March 2020.

On a month-to-month basis, exports of seafood increased by 51.67 percent in March 2020 compared to exports of $25.495 million in February 2020, PBS data showed. The country’s total food exports rose by 1.43 percent over the first nine months of the current year as opposed to the previous year.

The country’s food exports were reported at $3396, 022 million in July-March (2019-20) compared to the July-March (2018-19) exports of $3348, 104 million. It is important to note here that the overall trade deficit in the country has seen a substantial reduction in the first three quarters of the current financial year and has dropped by 26.45 percent compared to the same period last year.

Exports reported around 2.23% growth during the period under review, while imports decreased by 14.42%.

Exports experienced a rise of 2.23 percent over the period from July-March (2019-20) and reached $17,451 billion compared to the exports of $17,071 billion of the same period last year.

Imports from the country recorded a substantial 14.42pc decrease and fell from $40.679 billion in the first three quarters of the last financial year to $34.814 billion of the same duration of the current financial year, it said. Based on the estimates, the trade deficit was reported at $17,363 over last year’s deficit of $23,608, showing a decrease of 26.45 percent over the period under review.

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Pak Revenue

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