In the first month of the current fiscal year, exports of tobacco from the nation increased by 415.01 percent compared to the same month previous year.
The Pakistan Bureau of Statistics reports that in July 2022, the country’s exports of tobacco were $4.872 million, a 415.01 percent increase from July 2021’s exports of $0.946 million (PBS).
Quantitatively as well, exports of tobacco increased by 228.51 percent, with the nation shipping out 1,544 metric tonnes of the product in the month under review, up from 470 tonnes in the same period previous fiscal year.
Meanwhile, month-over-month comparisons show a 29.33% drop in exports of tobacco in July 2022 compared to the $6.894 million sent in June.
It is worth noting that total exports of goods from the nation fell by 5.17 percent in July 2022, compared to the previous year’s export totals in July 2021. July exports were $2,219 million, down from $2,340 million the previous year.
Comparing July 2022 to July 2021, when exports were $5.575 billion and imports were $4.861 billion, we see a fall of 12.81 percent in imports, or $861 million.
According to PBS statistics, the merchandise trade deficit decreased from $3,235 million in July 2020 to $2,642 million in July 2022, a decrease of 18.33 percent.
