[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]In the first nine months (July to March) of the current fiscal year (FY23), Pakistan imported Rs. 101 billion worth of tea, a 20.55 percent increase over the Rs. 83.88 billion reported in the corresponding period of the previous fiscal year (FY22).
In March, Pakistan imported Rs. 10.77 billion worth of tea, down 5.1% from the Rs. 11.358 billion reported in the same month of FY22, according to the most recent data made public by the Pakistan Bureau of Statistics (PBS).
In terms of dollars, imports during the period of July to March FY23 totaled $434.9 million, a decrease of 10.71 percent from the $487.09 million reported for the same period of FY22.
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When compared to the $63.234 million in imports reported in the same month of FY22, March’s imports fell by over 40% to $38.441 million in dollar terms.
Imports in First 3 Months of 2023:
The imports of tea were Rs 19.25 billion in rupee terms in January and Rs. 19.25 billion in February, bringing the total imports for the first three months of the current calendar year to Rs. 30.02 billion.
In essence, this indicates that during the first three months of the current year, Pakistan imported tea worth Rs. 375 million each day.
It is important to note that Pakistan is one of the world’s largest importers of tea at this time. Pakistan was the world’s largest tea importer in 2021, Statista reports, with imports totaling over $598 million.
The quantity of tea imported decreased both in March on a year-over-year basis and in the first nine months of the current fiscal year compared to FY22, so it’s important to note that the increase in tea imports in rupee terms is primarily attributable to the depreciation of the local currency.[/vc_column_text][/vc_column][/vc_row]
