Pakistan Imported Rs. 30 Billion Worth Tea in 3 Months of 2023:
Pakistan’s tea imports during the first nine months of the current fiscal year (FY23), which spans from July to March, reached Rs. 101 billion, representing an increase of 20.55% compared to the same period in the previous fiscal year (FY22), which reported imports of Rs. 83.88 billion. According to the latest data released by the Pakistan Bureau of Statistics (PBS), tea imports in rupee terms amounted to Rs. 10.77 billion in March, which is a 5.1% decrease from the Rs. 11.358 billion reported in the same month of FY22.
In dollar terms, imports during the July-March FY23 period amounted to $434.9 million, down 10.71% compared to $487.09 million in the same period of FY22. In March, imports in dollar terms were $38.441 million, representing a significant decline of almost 40% compared to imports of $63.234 million reported in the same month of FY22.
Imports during the first three months of 2023
During the first three months of the current calendar year, tea imports in rupee terms for January and February totaled Rs. 19.25 billion, bringing the total for the first three months of the year to Rs. 30.02 billion. This means that Pakistan imported tea worth approximately Rs. 375 million each day during the first three months of the year.
Pakistan is among the largest tea importers globally, with imports valued at around $598 million in 2021, according to Statista. However, the increase in tea imports in rupee terms is primarily attributed to the depreciation of the local currency, as the quantity of tea imports decreased in March on a year-on-year basis and during the first nine months of the current fiscal year compared to FY22.
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