PBS says food imports decline

Food imports into Pakistan witnessed a decrease during the first two months July-August of the current fiscal year as compared to the corresponding period of last year easing the burden nominally on the country’s current accounts, according to the data released by the Pakistan Bureau of Statistics (PBS). The major products that contributed in negative growth included tea, spices and sugar. On the other hand, the products that contributed in positive growth were dairy products, dry fruits and nuts, soya bean oil and pulses. It is pertinent to mention that overall imports into the country during the period under review witnessed decrease of 1.99 per cent. The imports into the country were recorded at $7.346 billion in the two months of fiscal 2012-13 against the imports of $7.495 billion in the corresponding period previous year. The country’s trade deficit too contracted marginally in the first two months of the current fiscal year due to a decline in both exports and imports. Exports too fell 3.3 per cent or $134 million in the July-August period of this fiscal year as goods worth $3.97 billion were exported compared to the corresponding period of previous year. From gulftoday