Pakistan Imported Spices Worth Rs. 3.1 Billion in February

Pakistan imported spices worth Rs. 3.145 billion in February of the current fiscal year (FY23), up marginally from imports of Rs. 3.107 billion reported in the same month of the previous fiscal year (FY22), according to the data released by the Pakistan Bureau of Statistics (PBS). In dollar terms, the imports of spices stood at $11.792 million in February, down 33 percent compared to imports of $17.7 million reported in the same month of FY22. The imports of spices stood at Rs. 23.9 billion in the first eight months (July-February) of the current fiscal year (FY23), down 11 percent compared to imports of Rs. 26.9 billion reported in the same period of the previous fiscal year. In dollar terms, the imports of spices stood at $104.15 million, down 34 percent compared to imports of $158.5 million reported in the same period of the previous fiscal year. It is pertinent to mention here though that the country also exported spices worth Rs. 2 billion in February, up 16 percent compared to exports of Rs. 1.78 billion in the same month of FY22. According to 2020 data available from the Observatory of Economic Complexity (OEC), Pakistan’s imports of spices originated primarily from China and Thailand.