Import of construction machinery decreases 4.56% during first two months

October 05, 2018: Imports of construction machinery during the first two months of current financial year decreased by 4.56 percent as compared to the imports of the corresponding period of last year.

During the period from Jul-Aug 2018, machinery worth US$ 69.422 million was imported against the imports of US$ 72.741 million of the same period of last year, as per the data published by Pakistan Bureau of Statistics.

The overall machinery group import into the country reduced by 19.22 percent as US$ 1.592 billion was spent on the import of different machinery during first two months of current fiscal year as against the import of US$ 1.971 billion of same period of last year, it added.

During the period under review, import of power generators also decreased by 52.24 percent as it came down from US$ 499.597 million in the first two months of last financial year to US$ 238.581 million of two month of current year.

Meanwhile, imports of textile machinery went down by 18.43 percent as it was registered at US$ 72.37 million in July-August, 2018 from US$ 88.331 million of corresponding period of last year.

However, the import of electric machinery grew by 8.50 percent as electric machinery valuing US$ 328.144 million was imported in first two-month as compared to the imports of US$ 302.444 million of same period of last year.

During the period under review, agriculture machinery worth US$ 24.669 million was imported as compared to the import of US$ 23.966 million of same period of last year, showing a 2.93 percent growth in imports.

 (APP)