Motor car imports witness sharp decline
Business
Motor car imports witness sharp decline
ISLAMABAD (Dunya News) – The imports of motor cars, both Completely Built Up (CBU) as well as Semi-Knocked Down (SKD) or Completely Knocked Down (CKD), witnessed a sharp decline of 66 percent and 40.37 percent respectively during the first half of the current fiscal year compared to last year.
According to Pakistan Bureau of Statistics, the imports of CKD/SKD were recorded at $722.524 million during July-December (2022-23) as compared to the imports of $1211.577 million during July-December (2021-22), showing a decline of 40.37 percent.
Likewise, Pakistan imported CBU motorcars worth $108.453 million during July-December as compared to the imports of $318.999 last year, showing a decline of 66 percent.
Overall, transport group imports declined by 49.
84 percent during the period under review. The imports of the group were recorded at $ 1,163.005 million as compared to the imports of $2,318.457 million last year.
It is pertinent to mention here that overall merchandize imports into the country decreased by 22.97 percent during the period under review by going down from $ 40,563 million last year to $ 31,245 million during the current year.
The exports were recorded at $14,258 million against the exports of $15,125 million last year, showing a decline of 5.73 percent.
Based on the figures, the trade deficit during the first six months of the current fiscal year witnessed a decline of 33.22 percent and was recorded at $ 16,987 million this year against the deficit of $ 25,438 million last year.
