Machinery imports drop by 13% for Sept-18

October 18, 2018 (MLN): Cost of machinery imports has fallen down by 13.01% on MoM basis as the total imports amounted to $701 million in September, as compared to $806 million imports in August.

On a YoY basis, the total imports of machinery fell by 14.66% as they decreased from $821 million in Sept-17 to $701 million in Sept-18.

Construction machinery reported the largest decrease in imports by 35.24% on a MoM basis, as it fell from $29 million in Aug-18 to $19 million in Sept-18.

In terms of YoY comparison, import of construction machinery dropped by 29.3% as the value of imports stood at $27 million in Sept-17.

Office machinery imports demonstrated a decrease of 16.34% on a MoM basis, as it plummeted from $40 million in Aug-18 to $34 million in Sept-18.

Conversely, it witnessed a growth of 15.83% in the cost of imports on YoY basis, having grown from $29 million in Sept-2017 to $34 million in Sept-18.

Agriculture machinery witnessed the highest growth in terms of both MoM (2.55%) and YoY (18.32%) basis, as it increased from $10.1 million in Sept-2018 and $8.7 million in Sept-2017, to $10.3 million in Aug-2018.

Power generation exhibited a plunge of 9.18% on a MoM basis, decreasing from $116 million in Sept-18 to $105 million in Aug-18. Likewise, it fell by 48.37% on a YoY basis as it stood at $690 million in Sept-17.

On a quarterly basis, the total imports of petroleum commodities exhibited a decrease of 17.88%, as they decreased from $2.7 billion for the period July-Sept 2017 to $2.2 billion for the corresponding period last year.

Copyright Mettis Link News

Posted on: 2018-10-18T15:29:00+05:00

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