June 21, 2021 (MLN): Pakistan’s imports stood at $5.31 billion in the month of May 2021 with major contributions were associated with petroleum products, mobile phones, electrical machinery and plastic materials.
According to the data issued by the Pakistan Bureau of Statistics (PBS), the major portion of import came from the Machinery group in terms of growth-wise as the import bill of the said group surged by around 18% MoM to clock in at $936 million in the month of May 2021.
During the month of May 2021, in terms of value, Telecom, under the head of the Machinery group, showed an increase of 14% MoM and 39% YoY to $220 million. This was followed by the imports of Electrical Machinery & Apparatus that valued $193 million, up by 16.2% MoM to fulfill the domestic requirements while it inched down by 1.24% YoY. Meanwhile, the import bill of Power Generating Machinery stood at $149 million in May 2021.
Within Telecom, the import bill of Mobile Phones witnessed a jump of 18% MoM and 58.03% YoY to $175 million during the month under review.
Cumulatively, during July-May FY21, the imports of the machinery group soared by 13% YoY to $8.86 billion. The group accounts for almost 18% of the total imports during 11MFY21.
The biggest contributor to the import bill, in terms of value, is Telecom, which showed a significant surge of 47.18% to $2.34 billion. Within Telecom, the imports of Mobile Phones jumped significantly by 63.4% YoY to $1.86 billion during 11MFY21.
Similarly, the import bill of Power Generating Machines under the Machinery Group witnessed a surge of 44.5% YoY to $1.59 billion during July-May FY21.
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