Machinery imports experience 6.21pc YoY decline in July, August

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ISLAMABAD: Imports related to machinery of various industries reduced by 6.21 per cent during July and August, first two months of current fiscal year (FY) ending on June 30, 2021, as compared the corresponding period of the last fiscal year.

The Pakistan Bureau of Statistic (PBS) released statistics on September 22 which say that the machinery group imports have dipped from $1.413 billion in the first two months of FY20 to $1.325 billion in the corresponding period of the current fiscal year.

Among the reduction of imports include a decline in the imports of office machinery including data processing equipment by 8.5 per cent as it reduced to $62.591 million as compared the imports valuing $68.408 million of the same period of last year, it added.

Separately, textile machinery imports dropped by 32.47 per cent, worth $55.435 million as compared the imports valuing $82.093 million of the corresponding period of last year.

During the period under review, construction and mining machinery imports also came down by 27.18%, valuing $16.870 million in July and August of FY20 as compared to imports worth $23.167 million of the same period of last year.

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