Metal imports during September diminish by 18.6%

October 17, 2018 (MLN): Pakistan’s metal import bills during September 2018 have lightened by 18.66% over the previous month as they shrunk down from $467.9 million in August 2018, to $380.6 million, according to an official data report published by Pakistan bureau of statistics (PBS).

Compared to the parallel period of previous year, the value of metal imports has come down by a much smaller margin of 1%. Meanwhile, a look at cumulative figures for the complete quarter tells us that metal imports compared to the first quarter of prior fiscal year have reduced marginally by 2.4%

Within the group, Aluminum Wrought and Wori witnessed the largest decline in imports over the month, as they dropped from an import value of almost $22 million to $17 million. On a year-on-year basis however, the imports of this specific metal has increased significantly by 33%, while its collective imports throughout the quarter have risen by 24% over the year.

Similarly, imports of iron and steel have reduced by almost 18% over the month and 2.5% over the year while its imports through the quarter have diluted by 3.6%.

On the contrary, Gold imports over the month have shown a substantial growth in terms of percentage as they elevated to imports worth $1.9 million during the month, marking a rise of around 61%. However, a comparatively smaller absolute change puts across an impression of a low base effect.

Against September 2017, gold import bills have leapt by around 70% however during the quarter the imports have diminished by 18%.

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