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Nov 17, 2022
Pakistan’s machinery group imports witnessed a negative growth of 40.16 percent first four months (July-October) of the current fiscal year 2022-23 (FY23) and stood at $2.226 billion compared to $3.720 billion during the same period of last fiscal year, says Pakistan Bureau of Statistics (PBS).
The data on exports and imports released by PBS revealed that the monthly machinery group imports declined to $457 million during October 22, which is a 9-year low according to Arif Habib Limited.
Power generation machinery registered 69.88 percent negative growth during the first four months of FY23 and stood at $207.578 million compared to $689.226 million during the same period of the last fiscal year.
Petroleum group
Petroleum group imports witnessed a negative growth of 2.31 percent during the period under review and stood at $6.054 billion compared to $6.197 billion during the same period of last fiscal year.
Petroleum group imports registered 24.03 percent negative growth on a month-on-month (MoM) basis in October 2022 and stood at $1.188 billion compared to $1.563 billion in September and registered 25.94 percent negative growth on a year-on-year (YoY) basis when compared to $1.604 billion in October 2021.
Petroleum products witnessed 1.75 percent negative growth during the first four months of FY23 and stood at $2.844 billion compared to $2.894 billion during the same period of the last fiscal year.
On MoM basis, it stood at $455.341 million in October 2022 compared to $730.113 million in September 2022 and registered 37.63 percent negative growth. On a YoY basis, petroleum products imports witnessed a negative growth of 36.67 percent when compared to $719.034 million in October 2021.
Petroleum crude imports witnessed a growth of 6.61 percent during the first four months of FY23 and stood at $1727 billion when compared to $1.620 million during the same period of last year. On a MoM basis, petroleum crude imports registered 17.35 percent negative growth and stood at $372.322 million compared to $450.503 million in September 2022. On a YoY basis, petroleum crude imports witnessed a growth of 1.93 percent when compared to $365.288 million in October 2021.
Natural gas (liquefied) imports witnessed a negative growth of 15.55 percent during the first four months of the current fiscal year and stood at $1.286 billion compared to $1.499 billion during the same period of the last fiscal year.
Agricultural and other chemicals
Agricultural and other chemicals group imports witnessed 23.58 percent negative growth during the first four months of the current fiscal year and stood at $3.477 billion compared to $4.550 billion during the same period of the last fiscal year.
Transport group
Transport group imports witnessed 46 percent negative growth during the first four months of the current fiscal year and stood at $801.582 million compared to $1.484 billion during the same period of the last fiscal year.
Food group
Food group imports witnessed 9.81 percent growth during the first four months of the current fiscal year and stood at $3.431 billion compared to $3.127 billion during the same period of the last fiscal year.
Overall imports
The country’s overall imports during the period under review stood at $21.093 billion (provisional), compared to $25.084 billion during the corresponding period of last year showing a decrease of 15.91 percent.
Imports in October 2022 stood at $4.711 billion (provisional) as compared to $5.347 billion in September 2022 showing a decrease of 11.89 percent and by 26.03 percent as compared to $6.369 billion in October 2021.
The main commodities of imports during October 2022 were Petroleum products (Rs. 100,436 million), Petroleum crude (Rs. 82,124 million), Natural gas, liquified (Rs. 65,485 million), Palm oil (Rs. 59,739 million), Plastic Materials (Rs. 47,301 million), Iron & steel (Rs. 38,517 million), Raw cotton (Rs.29,943 million), Iron & steel scrap (Rs. 26,037 million), Electrical machinery & apparatus (Rs. 24,058 million) and Medicinal products (Rs. 23,234 million).
Pakistan’s trade deficit narrowed by 26.20 percent during the first four months (July-October) of the current fiscal year and stood at $11.530 billion compared to $15.624 billion during the same period of the last fiscal year.
propakistani.pk
Pakistan’s Machinery Imports Slump by 40% in First Four Months of FY23
ProPKNov 17, 2022
Pakistan’s machinery group imports witnessed a negative growth of 40.16 percent first four months (July-October) of the current fiscal year 2022-23 (FY23) and stood at $2.226 billion compared to $3.720 billion during the same period of last fiscal year, says Pakistan Bureau of Statistics (PBS).
The data on exports and imports released by PBS revealed that the monthly machinery group imports declined to $457 million during October 22, which is a 9-year low according to Arif Habib Limited.
Power generation machinery registered 69.88 percent negative growth during the first four months of FY23 and stood at $207.578 million compared to $689.226 million during the same period of the last fiscal year.
Petroleum group
Petroleum group imports witnessed a negative growth of 2.31 percent during the period under review and stood at $6.054 billion compared to $6.197 billion during the same period of last fiscal year.
Petroleum group imports registered 24.03 percent negative growth on a month-on-month (MoM) basis in October 2022 and stood at $1.188 billion compared to $1.563 billion in September and registered 25.94 percent negative growth on a year-on-year (YoY) basis when compared to $1.604 billion in October 2021.
Petroleum products witnessed 1.75 percent negative growth during the first four months of FY23 and stood at $2.844 billion compared to $2.894 billion during the same period of the last fiscal year.
On MoM basis, it stood at $455.341 million in October 2022 compared to $730.113 million in September 2022 and registered 37.63 percent negative growth. On a YoY basis, petroleum products imports witnessed a negative growth of 36.67 percent when compared to $719.034 million in October 2021.
Petroleum crude imports witnessed a growth of 6.61 percent during the first four months of FY23 and stood at $1727 billion when compared to $1.620 million during the same period of last year. On a MoM basis, petroleum crude imports registered 17.35 percent negative growth and stood at $372.322 million compared to $450.503 million in September 2022. On a YoY basis, petroleum crude imports witnessed a growth of 1.93 percent when compared to $365.288 million in October 2021.
Natural gas (liquefied) imports witnessed a negative growth of 15.55 percent during the first four months of the current fiscal year and stood at $1.286 billion compared to $1.499 billion during the same period of the last fiscal year.
Agricultural and other chemicals
Agricultural and other chemicals group imports witnessed 23.58 percent negative growth during the first four months of the current fiscal year and stood at $3.477 billion compared to $4.550 billion during the same period of the last fiscal year.
Transport group
Transport group imports witnessed 46 percent negative growth during the first four months of the current fiscal year and stood at $801.582 million compared to $1.484 billion during the same period of the last fiscal year.
Food group
Food group imports witnessed 9.81 percent growth during the first four months of the current fiscal year and stood at $3.431 billion compared to $3.127 billion during the same period of the last fiscal year.
Overall imports
The country’s overall imports during the period under review stood at $21.093 billion (provisional), compared to $25.084 billion during the corresponding period of last year showing a decrease of 15.91 percent.
Imports in October 2022 stood at $4.711 billion (provisional) as compared to $5.347 billion in September 2022 showing a decrease of 11.89 percent and by 26.03 percent as compared to $6.369 billion in October 2021.
The main commodities of imports during October 2022 were Petroleum products (Rs. 100,436 million), Petroleum crude (Rs. 82,124 million), Natural gas, liquified (Rs. 65,485 million), Palm oil (Rs. 59,739 million), Plastic Materials (Rs. 47,301 million), Iron & steel (Rs. 38,517 million), Raw cotton (Rs.29,943 million), Iron & steel scrap (Rs. 26,037 million), Electrical machinery & apparatus (Rs. 24,058 million) and Medicinal products (Rs. 23,234 million).
Pakistan’s trade deficit narrowed by 26.20 percent during the first four months (July-October) of the current fiscal year and stood at $11.530 billion compared to $15.624 billion during the same period of the last fiscal year.
Pakistan’s Machinery Imports Slump by 40% in First Four Months of FY23
Pakistan’s machinery group imports witnessed a negative growth of 40.16 percent first four months (July-October) of the current fiscal year 2022-23 (FY23)
propakistani.pk
