Pakistan’s tea imports have risen significantly during the first eight months (July-February) of the current fiscal year (FY23). According to data released by the Pakistan Bureau of Statistics (PBS), the imports during this period amounted to Rs. 90 billion, which is a 24.58 percent increase compared to the same period in the previous fiscal year (FY21), when imports were reported at Rs. 72.5 billion.
However, in February of this year, tea imports in rupee terms stood at Rs. 8.71 billion, which is a 28 percent decline compared to the same month in FY21, when imports were reported at Rs. 12.15 billion.
In terms of dollar value, the tea imports during July-February FY22 amounted to $396.5 million, which is a decrease of 6.45 percent compared to the same period in FY21 when imports were reported at $423.9 million. Meanwhile, in February of this year, the imports in dollar terms were recorded at $32.67 million, which is a decrease of over 50 percent compared to imports of $69.2 million reported in the same month of FY21.
During January of 2023, the tea imports in rupee terms amounted to Rs. 10.541 billion, which brought the total imports for the first two months of the current calendar year to Rs. 19.25 billion. This translates to Pakistan importing tea worth Rs. 326 million each day during the first two months of the year.
It is worth noting that Pakistan is one of the largest tea importers in the world, as per data from Statista, which shows that Pakistan was the leading tea importing country in the world, with imports valued at approximately $598 million.
In conclusion, while Pakistan’s tea imports have increased significantly during the first eight months of the current fiscal year, there has been a decline in imports in February 2023 in both rupee and dollar terms. Nonetheless, Pakistan remains one of the biggest importers of tea globally.
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