July 24, 2021 (MLN): Pakistan’s imports stood at $6.37 billion in the month of June’21 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 36.61% MoM to clock in at $1.28bn in the month of June’21.
During the month, in terms of value, Telecom, under the head of the Machinery group, showed an increase of 16% MoM, whereas on the same segment posted a decline of 6.3% YoY to $256mn. Meanwhile, the imports of Electrical Machinery & Apparatus that valued at $222mn, up by 16.41% MoM to fulfill the domestic requirements while the same was jumped by 61% YoY. At the same time, the import bill of Power Generating Machinery stood at $325.26mn in June’21.
Within Telecom, the import bill of Mobile Phones witnessed a jump of 16.62% MoM whereas on yearly basis, the same commodity witnessed a decline of 11.51% YoY to $204.68mn during the month under review.
Cumulatively, during FY21, the imports of the machinery group soared by 15.45% YoY to $10.14bn. The group accounts for almost 18% of the total imports during FY21.
The biggest contributor to the import bill, in terms of value, is Telecom, which showed a significant surge of 39.33% YoY to $2.59bn. Within Telecom, the imports of Mobile Phones jumped significantly by 50.75% YoY to $2bn during FY21.
Similarly, the import bill of Power Generating Machines under the Machinery Group witnessed a surge of 39.38% YoY to $1.91bn during FY21.
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