Machinery being imported in abundance

Imports within the machinery sector exhibited a 6.36% growth in the initial five months of the current fiscal year (2023-24) compared to the same period last year, as reported by the Pakistan Bureau of Statistics (PBS).

From July to November (2023-24), the overall machinery group’s imports amounted to $2,935.576 million, reflecting an increase from the $2,760.055 million recorded in the corresponding period of the previous year.

Notable increases were observed in the import of agriculture sector machinery and equipment, rising by 60.76% to $31,804 million; office machinery, including data processing equipment, increased by 57.11% to $204.095 million; construction and mining machinery saw a 3.87% uptick to $34.546 million; electricity machinery and apparatus rose by 17.10% to $912.073 million; telecom- related equipment surged by 74.36% to $794.445 million; mobile phones showed a 112.20% increase to $616.541 million, and other apparatus recorded a 7.77% growth to $177.904 million.