ISLAMABAD  - The exports of tobacco from the country witnessed an increase of 415.01 percent during the first month of current fiscal year as compared to the corresponding month of last year.

Pakistan exported tobacco worth $4.872 million during July 2022 as compared to the exports of $0.946 million during July 2021, showing growth of 415.01percent, according to the Pakistan Bureau of Statistics (PBS).

In terms of quantity, the exports of tobacco also rose by 228.51 percent as the country exported 1,544 metric ton of tobacco during the month under review as compared to the exports of 470 metric ton during last fiscal year.

Meanwhile, on month-on-month basis, the tobacco exports however decreased by 29.33 percent during the month of July 2022 as compared to the exports of $6.894 million in June 2022.

It is pertinent to mention here that the country’s overall merchandise exports declined by 5.17 percent in July 2022 as compared to exports of July 2021. The exports during the month were recorded at $2,219 million against the exports of $2,340 million in last July.

The imports also declined by 12.81 percent to $4,861 million in July 2022 compared to exports of $5,575 million in July 2021.

Based on the figures, the merchandize trade deficit declined by 18.33 percent by going down form the deficit of $3,235 million last July to $2,642 million in July 2022, according to PBS data.