Seafood exports up 17.13pc to $456m during July-May 2022-23
Business
Overall trade deficit recorded at $25.791bn with a 40.59pc decline
ISLAMABAD (APP) – The exports of fish and fish preparations increased by 17.13 per cent during the first 11 of the current fiscal year as compared to the corresponding period of 2021-22, the Pakistan Bureau of Statistics (PBS) reported.
The country earned $456.668 million from seafood exports during July-May 2022-23 against the exports of $389.873 million in July-May 2021-22, the PBS said.
In terms of quantity, these exports increased by 32.65pc going up from 148,354 metric tons last year to 196,785 metric tons during the first eleven months of the outgoing year.
On a year-on-year basis, seafood exports increased by 25.06pc to $50,578m in May 2023 as compared to exports of $40.444m during May 2022.
In terms of quantity, the exports witnessed a 32.20pc increase going up from 16,578 metric tons last year to 22,081 metric tons this year.
On a month-on-month basis, the seafood exports declined by 0.93pc when compared to $51,052 million in April 2023, according to the PBS data.
In terms of quantity, fish exports went down by 6.76pc in May 2023 compared to the exports of 23,681 metric tons in April last year.
The overall food exports from the country were recorded at $ 4,661.906m during July-May 2022-23 against the level of $ 4,917.691m recorded last year in the same period, showing a negative growth of 5.20pc.
It is pertinent to mention that the overall trade deficit witnessed a decline of 40.59pc during the first eleven months of the current fiscal year as compared to the corresponding period of last year.
The trade deficit during July-May 2022-23 was recorded at $25.791 billion against the deficit of $43.409 billion in July- May 2021-22, a decline of 40.59pc.
The exports during the period were recorded at $25.366bn against $28.871bn last year, showing a decline of 12.14pc.
On the other hand, the imports witnessed a sharp decline of 29.22pc by falling from $72.280bn last year to $51.157bn during the current fiscal year, the PBS reported.
