State Bank Of Pakistan (SBP) Reports 13pc Decline In Vegetable Goods' Imports

State Bank of Pakistan (SBP) reports 13pc decline in vegetable goods' imports

The imports of vegetable products into the country decreased by 13.20 percent during the financial year 2018-19 as compared to the corresponding period of last year, the State Bank of Pakistan (SBP) reported

ISLAMABAD, (UrduPoint / Pakistan Point News - 24th Aug, 2019 ):The imports of vegetable products into the country decreased by 13.20 percent during the financial year 2018-19 as compared to the corresponding period of last year, the State Bank of Pakistan (SBP) reported.

The vegetable product imports into the country during July 2018-June 2019 were recorded at $2475.547 million against the import of $2852.307 million during July-June (2017-18), showing declined of 13.20 percent, according to SBP report.

The food commodities that contributed in negatively growth included edible vegetables, import of which dip from $518.534 million last year to $412.634 million during the period under review, showing declined of 20.42 percent.

The imports of coffee, tea, mate drink and spices decreased by 11.69 percent, from $718.257 million to $634.238 million whereas the imports of oil seeds and oleaginous fruits also decreased by 7.74 percent, from $1335.165 million to $1231.826 million.

The imports of cereals declined by 11.15 percent from $99.745 million to $88.617 million while the imports of edible fruits and nuts decreased by 66.677 percent, from $108.478 million last year to $36.155 million, the data revealed.

The imports of milling industry however, witnessed growth of 2.

55 percent, from $21.133 million to $21.804 million whereas the imports of other vegetable saps and extracts increased by 7.52 percent, from $19.260 million to $20.709 million.

Meanwhile, the country's merchandize trade deficit plunged by 15.33 percent during the fiscal year 2018-19 as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.

The trade deficit contracted to $31.820 billion during July-June (2018-19) against the deficit of $37.583 billion recorded during July-June (2017-18).

The exports during the period under review witnessed decrease of one percent by falling from $23.212 billion during last year to $22.979 billion during the ongoing fiscal year.

On the other hand, the imports declined by 9.86 percent to $54.799 billion during the period under review from $60.795 billion last year, the data revealed.

On year-on-year basis, the merchandize exports declined by 8.77 per cent, from $1.882 billion in June 2018 to $1.717 billion in June 2019 while the imports declined by 22.80 percent from $5.652 billion in June 2018 to $4.364 billion in June 2019, the data revealed.\395/778

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