Islamabad: The country’s palm oil imports have decreased by 25.36 percent in the first eleven months of this fiscal year compared to last year’s period, Pakistan Bureau of Statistics (PBS) reported.
According to PBS data, Pakistan imported palm oil worth $2,531,531 million during July-May (2023-24) against exports of $3,391,488 million during July-May (2022-23).
Quantitatively, palm oil imports decreased by 3.52 percent from 2,839,098 tons to 2,739,137 meters.
During that period, soybean oil imports dropped 56.75 percent from $282.201 million last year to $122.052 million.
It is worth mentioning here that the trade deficit has decreased by 15.25 percent in the first 20 months of this financial year (2023-24) as compared to the corresponding period of the previous year.
During July-May 2023-24, exports increased by 10.65 percent as exports were recorded at $28.070 billion compared to $25.368 billion in the corresponding period last year.
Imports into the country during the period under review decreased by 2.37 percent to $49.802 billion compared to $51.010 billion in the same period last year.
