Islamabad, January 01, 2024 : Overall Machinery Imports Rise by 6.36% in the First 5 Months of FY 2023-24.
July-November (2023-24) Sees Machinery Group Imports Reach $2,935.576 Million, Marking an Increase from $2,760.055 Million in the Previous Year – Pakistan Bureau of Statistics (PBS).
The import of machinery and equipment in various sectors experienced notable increases: agriculture sector machinery surged by 60.76% from $19.784 million to $31,804 million; office machinery, including data processing equipment, rose by 57.11% from $129.909 to $204.095 million; construction and mining machinery increased by 3.87% from $33.260 million to $34.546 million; electricity machinery and apparatus grew by 17.10% from $778.902 million to $912.073 million; telecom-related equipment soared by 74.36% from $455.625 to $794.445 million; mobile phones saw a substantial 112.20% increase from $290.550 to $616.541 million, and other apparatus rose by 7.77% from $165.075 million to $177.904 million.
Yet, in the same period, the import of power-generating machinery witnessed a decrease of 26.24%, declining from $243.135 million to $179.337 million. Additionally, textile machinery imports saw a substantial drop of 73%, decreasing from $212.786 million to $56.803 million, and other equipment imports declined by 18% from $886.654 million to $722.473 million.
In a year-on-year comparison, machinery group imports rose by 9.17% in November 2023, increasing from $534.863 million to $583.926 million compared to the same month the previous year. However, on a month-on-month basis, machinery imports decreased by 15.95% in November 2023, dropping from $694.762 million in October 2023, as per PBS data.
