Machinery import goes up by 6.36% in five months

The imports of the overall machinery group witnessed an increase of 6.36 per cent during the first five months of the current fiscal year (2023-24) compared to the corresponding period of the last year, the Pakistan Bureau of Statistics (PBS) reported.The total imports of the machinery group during July-November (2023-24) stood at $ 2,935.576 million against the imports of $2,760.055 million during the same period of the last year. However, during the period under review, the import of power-generating machinery declined by 26.24 per cent from $ 243.135 million to $ 179.337 million; textile machinery by 73 per cent from $212.786 to $56.803 million; and other equipment by 18 per cent from $886.654 million to $722.473 million. Meanwhile, on a year-on-year basis, the machinery group imports increased 9.17 per cent during November 2023 compared to the same month of last year, from $ 534.863 million to $583.926 million.—APP