January 15, 2021 (MLN): The import bill of the Machinery group increased by 18.16% MoM and 1.76% YoY to clock in at $867 million in the month of December 2020.
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 59% MoM and 26.32% YoY to stand at $258 million during Dec’20. This was followed by the imports of Power Generating Machinery which were recorded at $152 million, up by 49% YoY, Electrical Machinery & Apparatus with $126 million in Dec’20.
The imports of Mobile Phones under the head of Telecom witnessed a considerable 82.5% YoY and 29.28% MoM increase to $214 million during the month under review.
During July-Dec FY21, the imports of the machinery group fell by 4.34% YoY to $4.24 billion. The biggest contributor to the import bill, in terms of value, is Telecom, which showed a significant surge of 36.8% to $1.15 billion. Within Telecom, the imports of Mobile Phones jumped significantly by 52% YoY to $938 million during 1HFY21.
Copyright Mettis Link News