Pakistan’s seafood exports sunk to USD 40 million in June 2024

Published 2024년 7월 25일

Tridge summary

In 2023, Pakistan's seafood exports dropped to USD 410 million, a 17.4 percent decrease from the previous year's record of USD 496.6 million, and far below the USD 1 billion target. Export volume also fell by 6.4 percent to 200,709 metric tons. June 2024 saw further declines, with a 22.2 percent drop in value and a 17 percent drop in volume compared to June 2023. Despite the overall decline, exports to China increased by 13 percent, reaching USD 247.3 million. However, the U.S. and E.U. continued to block Pakistani shrimp exports due to sanitary and compliance issues. Lower global seafood prices and increased competition from cheaper Asian seafood have led to high operational costs and financial strain on local fishermen.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Pakistan’s seafood exports dropped to USD 410 million (EUR 378.2 million) in value in 2023.That total was down 17.4 percent from the 2022 fiscal year, in which Pakistani seafood exports reached USD 496.6 million (EUR 488.1 million), its record high, and far short of its USD 1 billion (EUR 922 million) goal.Pakistan exported 200,709 metric tons of seafood in its 2023 fiscal year, down 6.4 percent from the 214,542 MT it exported in 2022, according to the Pakistan Bureau of Statistics (PBS).The downswing has continued, with June 2024 exports decreasing 22.2 percent in value from USD 40 million (EUR 36.9 million) in June 2023 to USD 31 million (EUR 28.6 million), which was also down from the May 2024 figure of USD 37 million (EUR 34.1 million). Exports were also down 17 percent in volume in June 2024, dropping from 18,901 MT in June 2023 to 15,689 MT, according to PBS data.In contrast, overall food exports from Pakistan rose 46.8 percent in 2023 year over year, according to the ...

Source: Seafoodsource