Machinery Imports up 11% in September 2023

Pakistan’s machinery imports stood at $522 million in September 2023, up 11 percent over imports of $472 million in September 2022, according to data issued by the Pakistan Bureau of Statistics. However, on a month-on-month basis, the machinery imports slumped 19 percent compared to imports of $641 million recorded last month. The machinery imports during the first quarter of the current fiscal year (FY24) stood at $1.657 billion, down 6 percent compared to imports of $1.76 billion registered in the same period of the fiscal year. On a year-on-year basis, telecom imports registered a 101 percent increase in September 2023 and stood at $159 million. Similarly, electrical machinery & apparatus imports also grew 63 percent on a year-on-year basis in September 2023 and stood at $150 million. The imports of textile machinery slumped by 77 percent in September 2023 compared to the same month of FY23 and stood at $12 million.