Pakistan’s tea imports during the first nine months (July-March) of the current fiscal year (FY23) stood at Rs. 101 billion, up 20.55 percent compared to imports of Rs. 83.88 billion reported in the same period of the previous fiscal year (FY22).
According to the latest data released by the Pakistan Bureau of Statistics (PBS), the country’s tea imports in rupee terms stood at Rs. 10.77 billion in March, down 5.1 percent compared to imports of Rs. 11.358 billion reported in the same month of FY22.
In dollar terms, the imports during the July-March FY23 stood at $434.9 million, down 10.71 percent compared to imports of $487.09 million reported in the same period of FY22.
In March, the imports in dollar terms were recorded at $38.441 million, down by almost 40 percent compared to imports of $63.234 million reported in the same month of FY22.
Imports in First 3 Months of 2023
The tea imports in rupee terms during January and February stood were recorded at Rs. 19.25 billion billion, taking the imports for the first three months of the current calendar year to Rs. 30.02 billion.
This essentially means that Pakistan imported tea worth Rs. 375 million each day during the first three months of the current year.
It is pertinent to mention here that Pakistan is one of the biggest tea importers in the world. According to Statista, Pakistan was the leading tea importing country in the world in 2021, with imports valued at approximately $598 million.
It is also important to mention that the increase in tea imports in rupee terms is primarily due to the depreciation of the local currency, as the quantity of tea imports has decreased both in the month of March on a year-on-year basis and in the first nine months of the current fiscal year compared to FY22.
Source: Pro Pakistani