Machinery Imports Surge 46.27% In One Year

ISLAMABAD, (UrduPoint / Pakistan Point News - 4th Aug, 2024) The imports of the overall machinery group experienced a substantial increase of 46.27 per cent during the last fiscal year compared to the 2022-23 period, the Pakistan Bureau of Statistics (PBS) reported.

The surge in machinery imports is poised to enhance productivity and technological advancement across key sectors, driving economic growth and infrastructure development.

The total imports of the machinery group during the last year stood at $8,500.628 million against the imports of $5,811.517 million recorded in 2022-23.

The import of agriculture sector machinery and equipment surged by 122.85 per cent from $40.972 million to $91.307 million; office machinery including data processing equipment 35.31 per cent from $339.

428 million to $459.288 million; construction and mining machinery 11.16 per cent from $ 84.730 million to $ 94.187; electrical machinery and apparatus 95.67 per cent from $1,673.820 million to $3,275.127 million; telecom related equipment 147.36 per cent from $956.696 million to $2,366.500 million; mobile phone 233.10 per cent from $ 570.071 million to $ 1,898.933 million and other apparatus 20.94 per cent from $386.625 million to $ 467.567 million.

However, during the period under review, the import of power-generating machinery declined by 16.46 per cent from $ 500.450 million to $ 418.085 million; textile machinery by 54.52 per cent from $ 328.427 million to $ 149.364 million; other equipment by 12.73 per cent from $ 1,886.996 million to $ 1,646.768 million.