May 18, 2020 (MLN): The import bill of the Machinery group contracted by around 21.33% MoM and 37.41% YoY to clock in at $490 million in the month of April 2020.
According to the data issued by the Pakistan Bureau of Statistics (PBS), the biggest contributor in import bill, in terms of value, is Electrical Machinery and Apparatus, which showed a significant drop of 15.41% MoM whereas a meagre decline of 1.79% YoY to $168 million during April 2020.
Interestingly, the mobile imports during April 2020 showed a decline of 57% MoM and 36% YoY to $47 million.
During July-April FY20, the major portion of import in terms of value was associated with Electrical Machinery & Apparatus which registered the growth of 28.56% YoY to stand at $1.98 billion during 10MFY20.
The highest growth was observed in mobile imports during ten months of the current fiscal year, up by a massive percentage of almost 63 to $1.02 billion against $632 million of the corresponding period of the last fiscal year.
During ten months of the current fiscal year, the main machinery that contributed to declining import bill was Telecom Apparatus, Office Machines, and Equipment and other machines as their imports declined notably by 23.51% YoY, 16.86% YoY and 31.04% YoY respectively.
