March 17, 2021(MLN): The import bill of the Machinery group surged by around 26.65% YoY and 0.70% MoM to stand at $926 million in the month of February 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 71% YoY and 4.5% MoM to clock in at $237 million during Feb’21. This was followed by the imports of Power Generating Machinery that valued $198 million, up significantly by 40% YoY and 3.7% MoM to fulfil the domestic requirements. While the import bill of Electrical Machinery & Apparatus stood at $146 million in Feb’21.
The import bill of Mobile Phones under the head of Telecom witnessed a jump of 68% YoY while declined 10.7% MoM to $175 million during the month under review.
Cumulatively, during July-Feb FY21, the imports of the machinery group inched up by 1.3% YoY to $6.09 billion. The group accounts for almost 18% of the total imports during 8MFY21.
The biggest contributor to the import bill, in terms of value, is Telecom, which showed a significant surge of 38.7% to $1.62 billion. Within Telecom, the imports of Mobile Phones jumped significantly by 51.6% YoY to $1.31 billion during 8MFY21.
Similarly, the import bill of Power Generating Machines under the Machinery Group witnessed a surge of 40.13% YoY to $1.2 billion during July-Feb FY21.
