Seafood exports increase 8% to $317.307 million

F.P. Report

ISLAMABAD: The exports of fish and fish preparations increased by 7.97 percent during first three quarters of the current fiscal year as compared to the corresponding period of last year. The seafood exports during July-March (2019-20) were recorded at $317.307 million against the exports of $293.895 million in July-March (2018-19), showing growth of around 8 percent, according to Pakistan Bureau of statistics (PBS).

In terms of quantity, Pakistan exported 133,226 metric tons seafood during the period under review against the exports of 129,704 metric tons last year, showing increase of 2.72 percent. However on year-on-year basis, the fish exports from the country declined by 15.74 percent by going down from $45.895 million during March 2019 to $38.669 million in March 2020.

On month-on-month basis, the seafood exports however, increased by 51.67 percent in March 2020 when compared to the exports of $25.495 million in February 2020, the PBS data revealed.

The overall food exports from the country increased by 1.43 percent during the first nine months of current year compared to last year. The food exports from the country were recorded at $3396.022 million during July-March (2019-20) against the exports of $3348.104 million during July-March (2018-19).

It is pertinent to mention here that the country’s overall merchandize trade deficit witnessed significant reduction in first three quarters of current financial year and declined by 26.45% as compared to the corresponding period of last year.

During the period under review country’s exports registered about 2.23% growth, whereas imports reduces by 14.42%.

During the period from July-March (2019-20), the exports witnessed an increase of 2.23% and reached to $17.451 billion against the exports of $17.071 billion of the same period of last year, it added.

The country’s imports witnessed significant decrease of 14.42 % and went down from $40.679 billion in first three quarters of last financial year to $34.814 billion of same period of current financial year, it said. Based on the figures, the trade deficit during the period under review was recorded at $17.363 against the deficit of $23.608 during last year, showing decline of 26.45 percent.