Fertilizer Imports Soar by 121.36% in First Four Months of FY 2024-25

Fertilizer imports into the country have seen a significant increase of 121.36% in the first four months of the current financial year (July-October 2024) compared to the imports of the corresponding period of the last year.

During this period, the country imported over 612,622 metric tons of fertilizers valued at $374.876 million, a sharp rise from 334,675 metric tons worth $169.262 million in the corresponding months of 2023, according to data of Pakistan Bureau of Statistics.

In addition to fertilizers, medicinal product imports into the country also witnessed an increase of 18.59%, with 12,441 metric tons valued at $406.452 million imported, compared to 25,312 metric tons worth $342.730 million during the same period in the previous year, it added.

On the other hand, insecticide imports dropped by 31.49%, with imports recorded at 8,717 metric tons valued at $44.831 million, down from 13,226 metric tons worth $65.441 million in the same period of 2023, the data revealed.

Meanwhile, imports of plastic materials saw a slight decline of 1.85%. The country imported 630,414 metric tons of plastic valued at $790.156 million, compared to 657,633 metric tons worth $805.090 million in the first four months of fiscal year  2023-24.

In total, the country spent $3.066 billion on the import of agriculture and other chemicals during the period from July to October 2024, up from $2.848 billion in the same months last year.

Moreover, agricultural machinery imports also experienced a sharp rise of 70.92%, with $39.616 million worth of machinery imported, compared to $23.178 million during the same period last year.