Tea Imports Increase 34.77 Percent In Two Months

Fahad Shabbir (@FahadShabbir) Published September 28, 2020 | 05:03 PM

The tea imports witnessed an increase of 34.77 percent during the first two months of the current fiscal year as compared to the same period of last year, Pakistan Bureau of Statistics (PBS) reported

ISLAMABAD, (UrduPoint / Pakistan Point News - 28th Sep, 2020 ) :The tea imports witnessed an increase of 34.77 percent during the first two months of the current fiscal year as compared to the same period of last year, Pakistan Bureau of Statistics (PBS) reported.

The tea imports were recorded at $87.964 million during July-August (2020-21) as against imports of $65.258 million in July-August (2019-20), according to latest PBS data.

In terms of quantity, the tea imports increased by 48.88 percent during the period under review by going down from the imports of 26,694 metric tons last year to 39,742 metric tons during current year.

On year-on-year basis, the tea imports increased by 61.74 percent during August 2020 when compared to the imports of August 2019. The tea imports during August 2020 were recorded at $49.766 against the imports of $30.769 million in August 2019.

Meanwhile, on month-on-month basis, the tea imports into the country increased by 30.35 percent in August 2020 as compare to the imports of $38.

180 million in July 2020.

The imports of overall food commodities during the first two months of the current year increased by 40.59 percent by growing from $697.759 million last year to $981.004 million during the current year.

It is pertinent to mention here that, the country's merchandize trade deficit witnessed reduction of 7.48 percent during the first two months of current fiscal year (2020-21) as compared to the deficit of the corresponding period of last year.

The deficit during July-August (2020-21) was recorded at US $ 3.413 billion as compared to the deficit of US $ 3.689 billion, showing decline of 7.48 percent.

During the period under review, the country's exports registered negative growth of 4.25 percent, by going down from US $ 3.744 billion last year to US $ 3.585 billion during the current year.

On the other hand, the imports decreased by 5.85 percent, from US $ 7.433 billion last year to US $ 6.998 billion during the current year./778/