The exports of tobacco from the country witnessed an increase of 415.01% in the first month of the fiscal year, according to the data released by the Pakistan Bureau of Statistics (PBS).
Compared with the reports, the PBS data revealed that Pakistan exported tobacco worth $4.872 million during July 2022 whereas $0.946 million in tobacco was exported during July 2021, showing a considerable growth of 415.01%.
While referring to the quantity, a 228.51% rise has been witnessed as the country exported 1,544 metric tons of tobacco during the month under consideration when compared to the exports of 470 metric tons during last fiscal year.
However, on an MoM (month-on-month) basis, the export of tobacco declined by 29.33% during the month of July 2022 compared to the exports of $6.894 million in June 2022.
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It is pertinent to mention here that Pakistan’s overall merchandise exports showed a decline of 5.17% in July 2022 as compared to the exports of July 2021. On the other hand, exports of $2,219 million were noted during the month. While $2,340 million in exports were recorded in the previous July.
Furthermore, a drop in imports was also observed with 12.81% to $4,861 million in July 2022 when compared to the exports of $5,575 million in July 2021.
The PBS statistics further unveiled that the merchandise trade deficit declined by 18.33% moving downwards from the deficit of $3,235 million during the previous July to $2,642 million in July 2022.
Moreover, during the financial year 2020-21, the tobacco exported from the country showed an increase of 137.53 percent. The PBS data reported that the tobacco exports from the country were registered at the US $ 2.171 million during July 2020, which depicted a growth of 137.53 percent.
While relating to the quantity, the exports of tobacco also grew by 151.87 percent jacking up from 268 metric tons to 675 metric tons.
