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 81.79 percent and 31.43 percent respectively during the first five months of the current fiscal year compared to last year.
According to Pakistan Bureau of Statistics, the imports of CKD/SKD were recorded at $455.780 million during July-November (2022-23) as compared to the imports of $664.740 million during July-November (2021-22), showing decline of 31.43 percent.
In terms of numbers, Pakistan imported 101,569 units of CKD/SKD cars during the period compared to imports of 111,350 units during last year.
Likewise, Pakistan imported 6,056 CBU motorcars worth $27.407 million during July-November as compared to the imports of 25,133 cars valuing $150.500 last year, showing decline of 81.79 percent.
Overall, transport group imports declined by 46.77 percent during the period under review. The imports of the group were recorded at $ 1,022.346 as compared to the imports of $1,920.749 last year.
It is pertinent to mention here that overall merchandize imports into the country decreased by 20.15 percent during the period under review by going down from $ 32,983 million last year to $ 26,338 million during the current year.
The exports were recorded at $11,932 million against the exports of $12,362 million last year, showing decline of 3.48 percent.
Based on the figures, the trade deficit during the first five months of the current fiscal year witnessed a decline of 30.14 per cent and was recorded at $ 14,406 million this year against the deficit of $ 20,621 million last year.
