Fertilizer imports grew 130. 40 % in 1st month of FY 2023-24

Imports of fertilizer manufactured into the country surged by 130.40 percent in the first month of the current fiscal year, compared to the imports of the same month in the previous year.

In July 2023, approximately 18,995 metric tons of fertilizer worth $11.388 million were brought into the country, according to information provided by the Pakistan Bureau of Statistics. This is in contrast to the previous year, where imports totaled 6,449 metric tons valued at $4.943 million for the same month.

In the meantime, the country experienced a 10.78% decline in the imports of agricultural and other chemicals during the initial months of the current fiscal year, in comparison to the imports during the same month of the previous year.

In July 2023, the importation of agricultural and various chemicals amounted to a total cost of $718.801 million. This figure is lower compared to the imports in July of the previous year, which reached a sum of $805.634 million.

During the initial month of this fiscal year, a total of 2,987 metric tons of insecticides were brought into the country, with an estimated value of $17.789 million. This stands in contrast to the imports of the previous year, which consisted of 3,114 metric tons worth $24.064 million during the same period.

In the time being analyzed, a total of 156,948 metric tons of plastic products, valued at $204.250 million, were brought into the country. This contrasts with the imports in the previous year, where 143,102 metric tons valued at $241.805 million were recorded.

At the same time, The local demand was met by importing 2,502 metric tons of medicinal products, totaling $93.541 million, which was higher than the previous imports of 2,333 metric tons worth $92.451 million.