Pakistan’s Seafood Exports Reach $116 Million in First Four Months of FY 2024-25

Pakistan earned $116.115 million from exporting 54,539 metric tonnes of fish and fish products during the first four months (July-October) of the fiscal year 2024-25, as reported by the Pakistan Bureau of Statistics (PBS). Despite steady export volumes, the revenue reflects a decline compared to the same period last year.

Year-on-Year Decline in Seafood Exports

When compared to the $123.965 million earned during the same period in fiscal year 2023-24, seafood exports saw a 6.33% decrease in revenue. In terms of quantity, exports dropped marginally by 0.04%, from 54,562 metric tonnes in the previous fiscal year to 54,539 metric tonnes during the current year.

Monthly Performance Shows Positive Growth

While overall figures indicated a decline, the monthly performance of October 2024 reflected significant improvement:

• Revenue Growth: Seafood exports in October 2024 increased by 12.78%, reaching $46.009 million compared to $40.797 million in October 2023.
• Quantity Growth: Export volumes surged by 27.93%, rising from 16,724 metric tonnes in October 2023 to 21,395 metric tonnes in October 2024.

Comparison with September 2024

On a month-on-month basis, seafood exports showed a remarkable upward trend in October 2024:

• Revenue Increase: Exports grew by 31.45%, from $35.000 million in September 2024 to $46.009 million in October 2024.
• Volume Increase: Exported quantities jumped by 35.57%, from 15,781 metric tonnes in September 2024 to 21,395 metric tonnes in October 2024.

Broader Food Export Growth

The seafood export performance is part of an overall increase in Pakistan’s food exports.

• Food exports during the first four months of FY 2024-25 rose by 21.73%, reaching $2,365.114 million, compared to $1,942.915 million in the same period last year.

This growth reflects an increasing global demand for Pakistani food products, although the decline in seafood revenues points to pricing or market challenges that may need addressing.

Summary

The seafood export sector experienced mixed results in the initial months of FY 2024-25, with strong performance in October but a year-on-year revenue decline. Overall, the rise in food exports highlights potential for growth in the fisheries sector with improved strategies.