February 19, 2021 (MLN): The import bill of the Machinery group increased by 6% MoM and 9% YoY to clock in at $919.567 million in the month of January 2021.
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 an increase of 23% YoY and a decline of 12.28% MoM to stand at $227 million during Jan’21. This was followed by the imports of Power Generating Machinery which were recorded at $191.27 million, up significantly by 168% YoY and 25.3% MoM. While the import bill of Electrical Machinery & Apparatus stood at $151.2 million in Jan’21.
The import bill of Mobile Phones under the head of Telecom witnessed a jump of 36.28% YoY while declined 8.3% MoM to $196.85 million during the month under review.
Cumulatively, during July-Jan FY21, the imports of the machinery group fell by 2.2% YoY to $5.16 billion. The biggest contributor to the import bill, in terms of value, is Telecom, which showed a significant surge of 34.38% to $1.38 billion. Within Telecom, the imports of Mobile Phones jumped significantly by 49% YoY to $1.13 billion during 7MFY21.
Similarly, the import bill of Power Generating Machines under the Machinery Group witnessed a surge of 40.2 YoY to $1 billion during July-Jan FY21.
