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