April 20, 2020 (MLN): The imports of Agriculture & Other Chemical Products and Metals witnessed a decline of 15.22% and 18.14% YoY during Jul- March FY20 to $5.57 billion and $3 billion respectively, compared to $6.57 billion and $3.75 billion in the corresponding period last year.
According to the latest data issued by Pakistan Bureau of Statistics (PBS), the main products during the period that contributed in declining the import bill of Agriculture and other Chemical Products were heavily imported Plastic Materials, Medicinal Products and Fertilizer Manufactured as their imports declined notably by 8.45%, 8.54% and 32.65% YoY respectively.
In the month of March alone, the overall imports of the group shrank by 19.88% YoY and 5% MoM to $553.39 million.
On the other hand, the major products that helped in reducing the Metal’s group import bill during 9MFY20 were Iron & Steel and Aluminum Wrought as their imports witnessed a significant decline of 30% YoY and 31.8% YoY respectively.
In the month of March 2020, the imports of Metal products dipped by 20.4% YoY and 15.96% MoM to $306.2 million.
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