Import bill of Machinery group mounts by 38% MoM in Nov’20

December 18, 2020 (MLN): The import bill of the Machinery group surged by around 38% MoM to clock in at $734 million in the month of November 2020.

However, imports of machinery group dropped by 5% YoY against the import bill of $773 million recorded in Nov’19.

According to the data issued by the Pakistan Bureau of Statistics (PBS), the major portion of import was associated with Telecom in terms of value, showing a massive increase of 102% MoM and 38% YoY to stand at $204 million during Nov’20. This was followed by the imports of Power Generating Machinery which were recorded at $172 million, up by 145% MoM, Electrical Machinery & Apparatus with $105 million in Nov’20.

The imports of Mobile Phones under the head of Telecom, witnessed a considerable 155% MoM and 50% YoY increase to $166 million during the month under review.

During July-Nov FY21, the imports of the machinery group fell by 6% YoY to $3.37 billion. The biggest contributor to the import bill, in terms of value, is Telecom, which showed a significant surge of 31% to $896 million. Within Telecom, the imports of Mobile Phones jumped significantly by 45% YoY to $724 million during 5MFY21.

Copyright Mettis Link News