ISLAMABAD, Aug 11: The import bill of machinery group ($212.49 million) showed a decline of 0.56 per cent during July 2003, as compared to the corresponding period of previous year after having surged in double-digit percentage points during most of 2002-03.
According to the external trade figures of the Federal Bureau of Statistics for the first month of fiscal 2003-04, the proportion of machinery group in overall import bill of Pakistan $997.81 million too fell to 22.14 per cent, as against 23.05 per cent for July 2002.
This about-turn from the substantial increase in machinery group, which the government flaunted as proof of resurgence of industrial activity, was accounted for by slowdown of imports of such categories as power generating machinery, electrical machinery, etc.
But the item which successfully defied the apparently regressive tendency was “roadmotor vehicles” the imports of which surged by more than a quarter. Thus the expenditure in foreign exchange on their purchase ($44.03 million) as a fraction of machinery group rose by 7.20pc to 20.72pc.
The imports of power generating machinery ($20.155 million) were down by 5.84pc, electrical machinery and apparatus ($13.64 million) by 10.39pc, aircraft, ship and boats ($3.66 million) and agricultural machinery and implements ($1.06 million) by 15.88pc.
Apart from roadmotor vehicles, the other items whose imports increased included office machines ($17.97 million), textile machinery ($40.19 million) and construction and mining machinery ($11.56 million). As compared to July 2002, they were up by 9.24pc, 12.86pc and 9.84pc, respectively.
PETROLEUM GROUP: Imports of this group amounted to 220.89 million, denoting a drop of 14.28pc from July 2002. Its share in total import bill too dropped by 5.64pc-22.14pc.
Within this group, petroleum crude consumed $120.86 million, that is, 0.17pc less than the same month of previous year. As a result, its share in overall import bill stood at 12.11pc as against 13.05pc in July 2002. The country imported 609,285 tons of crude during July 2003.
AGRICULTURAL: The import of items in this group ($192.61 million) surged by 8.30pc. It stands out as one of the groups that raised their share in overall import bill slightly to 19.30pc as against 19.18pc in July2002.
In this group, the quantity of fertilizer imported was 149,550 tons at a cost of $30.01 million — 1.45pc more than during corresponding period.
Another major item of import in this group is plastic materials. The country imported 41,791 tons. An analysis of FBS figures shows that the country paid $41.25 million on their import, which is 23.24pc more than in July 2002, although quantitatively, it declined by 0.22pc.
By contrast, the quantity of medicinal products imported in July 2002 (871 tons) denoted an increase of 30.19pc, but the expenditure ($19.05 million) on these registered an increase of only 2.98pc.
Some of the raw materials/industrial intermediate goods are included in the groups “metals” and “miscellaneous” groups. Their combined import bill amounted to $73.94 million, over $9 million more than in July 2002. Likewise, their cumulative share in overall import bill increased from 6.99pc to 7.41pc.
FOOD GROUP: This group, with an import bill of $67.60 million for July 2003 accounted for 6.78pc of overall import bill, as against 7.39pc for the corresponding period of previous year. But 65.47pc of this expenditure was accounted for by the import of 95,179 tons of edible oils.
Although slightly less than in July 2002 in terms of quantity, the import bill increased by over $5 million to $44.26 million. As a fraction of overall bill, the import bill of edible oils rose from 4.24pc to 4.44pc.