Pakistan’s food exports up by 48% to $5.6bn in 9MFY24

Pakistan’s food group exports increased by 48.17% during the first nine months (July-March) of the current financial year (2023-24) as compared to the exports of the corresponding period of last year. 

According to the data released by the Pakistan Bureau of Statistics (PBS), Pakistan exported food commodities valued at $5.651 billion during the period from July-March FY24, as against the exports of $3.814 billion in the same period of the last year. 

On a year–on–year basis, the food group exports increased by 16.35% going up from $ 588.759 million in March 2023 to $ 685.025 million in March 2024. 

On a month-on-month basis, food exports, however, decreased by 2.36% when compared to the exports of $ 701.565 million in February 2024.

PBS data shows that rice exports increased by 83.37% and over 4.550 million tons of rice worth $2.930 billion were exported in nine months of FY24 as compared to the exports of 2.939 million tons valued at $1.598 billion in the same period of last year. 

Meanwhile, the exports of fruits grew by 17.34% and vegetables by 42.79% as 782,155 metric tons of fruits and 906,836metric tons of vegetables valued at $265.655 million and $94.896 were exported during the period under review, the data revealed. 

Similarly, the exports of tobacco increased by 19.99% and spices by 19.90% respectively as 16,968 metric tons of tobacco worth $61.576 million and 29,011 metric tons of spices valued at $87.297 million were exported during nine months of the current financial year. 

The exports of oil seed and nuts grew by 131.60%, whereas exports of sugar decreased by 74.63% as compared to the exports of the same period of last year.

The country earned $386.928 million by exporting about 93,508 metric tons of meat and meat products as the exports of meat and meat preparations grew by 28.24% during the period under review.