September 17, 2021 (MLN): Pakistan’s imports stood at $6.59 billion in the month of August’21 with major contributions were associated with petroleum products, machinery, food commodities and agriculture products.
With a contribution of 15% to the total import bill during the month of August’21, the import bill of the machinery group surged by 52% YoY to $984 million.
According to the data issued by the Pakistan Bureau of Statistics (PBS), in terms of growth-wise, the said group also witnessed an increase of 12% MoM when compared to $881mn recorded in the month of July’21.
During the month, in terms of value, Electrical Machinery & Apparatus, under the head of the Machinery group that showed an increase of 135% YoY clocked in at $215mn while the same segment posted a rise of 28.6% on a sequential basis.
Meanwhile, the imports of Power Generating Machines valued at $175mn, up by 55% YoY to fulfill the domestic requirements while the same segment saw an upsurge of 6.6% MoM.
Telecom, under the head of the Machinery group, showed an increase of 7.84% YoY and 32%, MoM, to $208mn during Aug’21.
Within Telecom, the import bill of Mobile Phones surged by 8% YoY and 40% MoM to stand at $166mn during the month under review.
Cumulatively, during July- Aug FY22, the imports of the machinery group soared by 41% YoY to $1.86bn. The group accounts for almost 15.33% of the total imports during 2MFY22.
The biggest contributor to the import bill, in terms of value, is Electrical Machinery & Apparatus, which showed a significant surge of 87.3% YoY to $382mn during July-Aug FY22
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