Food Imports Decline 24.8% in Q1 FY 2019-20

Food imports into the country during the first quarter of the current financial year (2019-20) dipped by 24.80 percent to $1.09 billion as compared to the $1.45 billion in the corresponding period of last year, according to the latest data of Pakistan Bureau of Statistics (PBS).

During the period under review, imports of milk, cream and milk food for infants reduced by 41.88 percent to 11,297 metric tons worth $30.337 million, compared to the imports of 17,827 metric tons valued $52.194 million last year.

Meanwhile, tea imports decreased by 31.05 percent as about 45,531 metric tons worth $102.231 million was imported as compared to the imports of 54,766 metric tons valuing $148.270 million during the same period last year.

Sugar imports also came down by 18.16 percent as about 1,219 metric tons of sugar worth $685 million was imported as compared to the imports of 1,625 metric tons worth $837 million last year.

However, during the first quarter, imports of soya bean oil witnessed an unprecedented increase of 40.88 percent with around 46,227 metric tons of the oil worth $32.071 million imported compared to imports of 29,761 metric tons valued at $22.764 million. Spice import was almost flat as it increased by 0.45 percent, as about 33,240 metric tons of the commodity costing $40.881 million was imported as compared to the imports of 37,699 metric tons valuing $40.699 million.

Meanwhile, the imports of palm oil went down by 25.38 percent in the first quarter, recorded at 671,774 metric tons costing $362.435 million.

Other commodities that witnessed negative growth in their respective imports during the period under review included pulses, imports of which declined by 22.37 percent and other food items which decreased by 26.48 percent.

Petroleum Imports Dip 16.55%

The petroleum group imports into the country dipped by 16.55 percent to $3.15 billion during the first quarter of the current fiscal year against $3.78 billion in the same period of last year.

During the period under review, crude oil imports decreased to $811.08 million this year as compared to $1.20 billion last year, showing a decline of 32.53 percent. The petroleum product imports also decreased by 17.25 percent from $1595.098 million to $1319.891 million.

Meanwhile, the petroleum group that witnessed positive growth included natural gas (liquefied), imports of which however witnessed an increase of 2.81 percent from $939.194 million to $965.585 million.

The import of petroleum gas (liquefied) also increased by 29.44 percent, from $47.042 million last year to $60.891 million during the period under review.