Metal group Imports reach $391.22 million during March, 2018

According to the latest data released by State Bank of Pakistan (SBP), total metal imports during the month of March clocked in at $391.226 million; posting a decline of 3.58 percent from February’s imports of $405.787 million.

Compared to that, year on year growth in the metal imports also went down by more than 9 percent during the month of March. The total imports during the month of Mach 2018 against March 2017 shrank by $41.01 million. 

Metals imported to Pakistan mainly include Gold, Iron and Steel scrap, Iron and steel and Aluminum (wrought and worked).

The major chunk of imports under the Metal category was mainly in the Scrapped Iron and Steel which contributed a total of 48.99 percent of the entire imports. Total scrapped Iron and steel imports during the month of March, 2018 clocked in by $110.106 million going down from $113.967 million same month last year.

SBP data reveals the second major chunk of imports under the Metal Products was mainly from the Iron and Steel category which contributed a total of 28.14 percent of the entire imports. Total scrapped Iron and steel imports during the month of March, 2018 clocked in by $191.647 million decline from $238.935 million same month last year.

Furthermore, month on month imports in Others category went up by 63.37 percent during March, 2018 with an year on year increase of 18.23 percent. 
Total Other Metal imports clocked in at $60.327 million during the month of March.