Daily Times

The imports of agriculture machinery and implements into the country during the first half of the current financial year grew by 70.42 per cent as compared to the imports of the corresponding period of the last year.

During the period from July-December, 2023 agricultural machinery costing $36.475 million was imported as compared to the imports of $21.482 million of the same period of the last year.

During the period under review machinery group imports into the country grew by 11.45 per cent as machinery worth $3.605 billion was imported as compared to the imports of $3.235 billion in the same period of last year, according to the data of Pakistan Bureau of Statistics.

However, in the last 06 months of the current financial year, the imports of agricultural and other chemicals decreased by 18.07 per cent as these commodities valued at $4.240 billion were imported as compared to the imports of $5.175 billion in the same period of last year.

In the last two quarters of the current financial year, about 586,868 metric tons of fertilizer valuing $314.887 million imported as compared to the imports of 672,816 metric tons worth $476.182 million in the same period of last year. The imports of insecticides and plastic materials were reduced by 5.62 per cent and 9.35 per cent respectively as 18,058 metric tons of insecticides valued at 94.946 million were imported as compared to the imports of 19,738 metric tons valuing $100.603 million of the same period of last year.

It may be recalled here that during the period under review, the exports increased by 5.17 per cent to $14.981 billion compared to the exports of $14.244 billion during the corresponding period of last year, according to the latest PBS data. On the other hand, the imports narrowed by 16.28 per cent and were recorded at $26.129 billion compared to $31.209 billion last year.

Meanwhile, on a year-on-year basis, the exports from the country increased by 22.21 per cent in December compared to the exports of the same month of last year. The exports during the month were recorded at $2.812 billion as against the exports of $2.301 billion in December 2022.