Pakistan’s Seafood Exports jump 52% to $37.9 million in July-August

During the first two months of the current financial year, Pakistan’s exports of fish and seafood have increased by 52.07% compared to the same period last year. According to Pakistan Bureau of Statistics(PBS), Pakistan’s seafood exports for July-August (2022-2023) recorded at USD 37.941 million, which is about 52.07% higher than exports of USD 224.949 million in July-August (2021-2022). Showing an extensive increase in seafood exports. 

In terms of volume, exports of fish and fish preparations increased by 42.45 percent from 11,128 metric tons last year to 15.864 metric tons in the first two months of last year. On a year-on-year basis, seafood export rose 81.36 percent to $19.435 million in August 2022 from $10.716 million in August 2021, according to PBS data.

Exports also saw an increase of 80.44% in terms of volume from 4,326 MT last year to 7,806 MT this year. On a month-on-month basis, seafood exports increased by 5%. 02 percent compared to exports of $18.506 million in July 2022, according to PBS data. 

Also See: FBR give extension to file income tax returns till October 31st, 2022

In terms of volume, however, fish exports declined by 3.13% in August 2022 compared to 8,058 metric tons in July 2022. During the first two months of this year, the total food exports have increased by 9.79%. Food exports recorded at $725.024 million in July-August as against $660.345 million last year.

Total exports from the country recorded at $4.759 billion during July-August (2022-23) while exports recorded at $4.587 billion during July-August (2021-22).

On the other hand, imports into the country declined by 9.25% to $11.028 billion in July-August (2022-23) from $12.152 billion last year. Based on the data, the trade deficit during the period under review was recorded at $6.269 billion, which shows a 17.13 percent decrease compared to the deficit of $7.565 billion recorded last year, according to PBS data revealed.