AVN Report
LAHORE: During the first quarter of the current financial year, Pakistan experienced a substantial 22.30pc decline in the imports of agricultural and other chemicals, as per data released by the Pakistan Bureau of Statistics.
From July to September 2023, the country imported agricultural chemicals valued at $2.047 billion, reflecting a significant drop from the $2.635 billion imported during the corresponding period in the previous year.
Similarly, the imports of fertilizers witnessed a striking 52.58pc reduction in the first three months of FY 2023. Only 105,085 metric tons of fertilizer, valued at $55.152 million, were imported, compared to 182,231 metric tons worth $116.308 million imported during the same period in the previous year.
Insecticide imports also saw a decline of 24.73pc during the review period, with 9,270 metric tons of insecticides, valued at $44.402 million, being imported, down from 108,817 metric tons worth $58.987 million in the corresponding period of the previous year.
Moreover, the imports of medicinal products experienced a decrease of 33.08pc in the first quarter of FY 2023, with Pakistan importing 7,357 metric tons of medicinal products, amounting to $249.195 million, in contrast to 8,643 metric tons valued at $372.361 million imported during the same period in the previous year.
The underlying reasons for these significant declines in chemical imports remain under scrutiny, with industry experts closely monitoring the situation for potential implications on the agricultural and pharmaceutical sectors.
