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Tea imports down 26.57pc in 5 months

Tea imports down 26.57pc in 5 months

LAHORE: The tea imports witnessed sharp decrease of 26.57 percent during the first five months of the current fiscal year as against the same period of last year.

The tea imports during July-November (2013-14) were recorded at $108.476 million against the imports of $147.726 million recorded during July-November (2012-13), according to the latest data of Pakistan Bureau of Statistics (PBS).

In terms of rupees, the tea imports witnessed negative trend of 19.42 percent by falling from imports of Rs14,051 million last year to Rs11,322 million during the current fiscal year.

During the period under review as mush as 46,799 metric tons of tea was imported against the tea imports of 49,242 metric tons during the corresponding period of last year, the PBS data revealed.

On year-on-year basis, the imports of tea during November 2013 decreased by 45.38 percent when compared to the imports of the same month of last year.

The tea imports in November 2013 were recorded at $20.873 million against the imports of $38.217 million in November 2012.

In rupees term, the tea imports in November 2013 decreased by 38.84 percent to Rs.2,244 million when compared to the imports of Rs.3,669 million in November 2012.

On month-on-month basis, the tea imports during November 2013 increased by 29.55 percent when compared to the imports of $16.112 million in October 2013.

In rupees term, the tea imports in the month under review increased by 31.15 percent when compared to the imports of Rs.1,711 million in October 2013, the PBS data revealed.

It is pertinent to mention here that the overall food imports during July-November 2013-14 witnessed decreased of 8.21 percent when compared with the imports of July-November 2012-13.

The food imports during these first five months of the current fiscal year were recorded at $1.711 billion against the imports of $1.864 billion during the corresponding period of last year, according to PBS data.

Owing to increase in exports and decrease in imports, the overall trade deficit decreased by 5.52 percent during the period under review as it declined from the deficit of $8.195 billion to $7.743 billion.

Overall exports during July-November (2013-14) were recorded at $10.367 billion against the exports of $10.055 billion last year whereas the imports during the period stood at $18.110 billion against the imports of $18.250 billion.