Tea imports up nearly 11 percent in Q1

Tea imports up nearly 11 percent in Q1

Pakistan Imports News

ISLAMABAD: Pakistan imports in tea has increased by nearly 11 percent in
the first quarter of the ongoing fiscal mainly on the back of higher
demand, Business92 reported.

The tea imports into the country increased by 10.79 percent during
the first quarter of the current
fiscal year compared to the corresponding period of last year.

The tea imports into the country were recorded at $134.448 million
during July-September (2016-17) compared to the imports of $121.355
during July-September (2015-16), showing growth of 10.79 percent,
according to the data of Pakistan Bureau of Statistics (PBS).

In terms of quantity, the tea imports into the country increased by 46.49 percent
by going up from the imports of 39,537 metric tons last year to 57,916 metric
tons during the period under
review.

Meanwhile, on year-on-year basis, the tea imports into the country increased
by 1.52 percent during the month of September 2016 compared to the same month of last year.

The tea imports during September 2016 were recorded at $40.253 million
compared to the imports of $39.650 million in September 2015, according to PBS data.

On month-on-month basis, the tea imports into the country during
September 2016 decreased by 22.74 percent when compared to the
imports of $52.098 million imports during August 2016.
The overall food group imports into the country increased by 9.7 percent
during July-September (2016-17) by going up from $1.239 million last
year to $1.359 million, the data revealed.

It is pertinent to mention here that the country’s exports during first quarter
of current fiscal year fell by 8.98 per cent to $4.681 billion from $5.143 billion
in same period of last year.

The imports rose to $11.746 billion in July-September 2016-17 from $10.611
billion in first three months of the year 2015 16 thus showing an increase of 10.7 per cent.

Based on the figures, the trade deficit widened by 29.21 percent during the
period under review as it went up to $7.065 billion in July September (2016 17)
as against the trade deficit of $5.468
billion in same period of last year.

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