Pakistan’s exports of spices rise by more than 19%

ISLAMABAD: During the first five months of the fiscal year 2023–24, there was a significant increase in Pakistan’s spice exports, amounting to 19.21 per cent.

When compared to the same period in the previous fiscal year, this surge stands in stark contrast.

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The Pakistan Bureau of Statistics (PBS) has released data showing that during the July–November fiscal year 2023–24, spice exports totaled US $45.179 million, a substantial increase over the US $37.898 million recorded during the same period in 2022–23.

Not only did the economy grow significantly in terms of money, but the amount of spices exported increased by an astounding 82% as well.

The information shows that during the current fiscal year, 15,431 metric tonnes were produced, compared to 8,478 metric tonnes in the previous year.

When the data was analyzed year over year, November 2023’s spice exports increased by 4.29 percent when compared to the same month the year before.

In November 2023, the United States exported $10.428 million worth of spices, compared to $9.999 million in November 2022.

On closer inspection, however, the month-to-month data shows that, in contrast to October 2023, spice exports fell by 5.13 percent in November 2023.

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According to PBS data, exports decreased from US $10.992 million in October 2023 to US $10.428 million in November 2023.

These figures highlight the dynamic nature of Pakistan’s spice export industry, demonstrating both the significant growth observed during the fiscal period and the subtle variations in monthly export figures.