Despite local production in millions, motorcycle imports up by 15.52%

Despite massive local production, the motorcycle imports into the country witnessed 15.52 percent increase during the fiscal year 2017-18 against the corresponding year, according to Pakistan Bureau of Statistics (PBS).

Pakistan imported motorcycles worth $106.382 million in July-June (2017-18) against the imports of $92.089 million in July-June 2016-17, showing growth of 15.52 percent.

Meanwhile, on year-on-year basis, the motorcycle imports surged by 22.83 percent during the month of June as compared to the same month of last year. The motorcycle imports in June 2018 were recorded at $9.562 million against the imports of $7.785 million in June 2017, the PBS data revealed.

On month-on-month basis, the imports of motorcycles witnessed nominal increase of 0.81 percent during the month of June 2017 when compared to the imports of $9.485 million in May 2018, according to the data.

Meanwhile, the local production of motorcycles during the first eleven months of fiscal year (2017-18) increased by 15.44 percent as against the corresponding period of last year.

As many as 2,650,233 motorcycle were manufactured during July-May (2017-18) against the output of 2,295,846 during July-May (2016-17), showing growth of 15.44 percent, the latest PBS production data revealed.

On year-on-year basis, the production of motorcycles increased by 14.57 percent by growing from the output of 231,295 units in May 2017 to 264,984 units in May 2018.

(APP)