October 18, 2021 (MLN): The import bill of the Machinery group has witnessed an increase of 35% YoY to clock in at $2.85 billion during the first quarter of FY22.
According to the latest data issued by the Pakistan Bureau of Statistics (PBS), the main types of machinery that contributed to escalating import bill during 1QFY22 in absolute terms were Telecom Apparatus, Power Generating Machineries, and Electric Machinery & Apparatus as their imports stood at $638mn, $530mn and $491mn, respectively.
Telecom which accounted for 22.41%of the entire machinery group’s imports during July-Sept FY22 went up by 8.06% YoY. Within Telecom, the imports of mobile phones increased marginally by 0.42% YoY to $495mn from $493mn during July-Sept FY21.
In the month of September alone, the import bill of the machinery group surged by 25.3% YoY to $978mn.
However, according to the data issued by the Pakistan Bureau of Statistics (PBS), in terms of growth-wise, the said witnessed a marginal decline of 0.60% MoM when compared to $985mn recorded in the month of Aug’21.
