Import bill up by 37pc in four months

Published November 11, 2004

ISLAMABAD, Nov 10: A massive growth in imports of five major groups raised the import bill by 37.42 per cent to $5.893 billion during the first four months (July-Oct) of the fiscal year 2004-05 as against $4.288 billion during the same months last year.

Official figures released here by the Federal Bureau of Statistics (FBS) showed the imports of metal group increased by 52.54 per cent, petroleum group 50.74 per cent, machinery group 29.03 per cent, agricultural and other chemical group 32.78 per cent, and food group by 26.71 per cent during the months under review over the same months last year.

In the metal group, the import of iron and steel scrap increased by 73.88 per cent, iron and steel by 53.99 per cent, and aluminium wrought by 14.32 per cent during the months under review over the same period last year.

In the petroleum group, the import of petroleum crude increased by 38.67 per cent and petroleum products by 66.97 per cent.

The statistics further revealed that in the food group, the import of milk and cream and milk food for infants increased by 17.60 per cent, wheat un-milled 100 per cent, dry fruits 415.55 per cent, tea 22.34 per cent, spices 63.43 per cent, palm oil 9.02 per cent, soyabean oil 37.75 per cent and pulses by 60.50 per cent during July-Oct of 2004 over the same months last year. A decline was observed only in the import of sugar (6.65 per cent).

The increase in the import of machinery group was attributed to a significant rise in the imports of textile, construction and mining machinery. The import of textile machinery rose by 51.94 per cent, construction and mining machinery 30.86 per cent, electrical machinery and apparatus 5.99 per cent, road-motor vehicles 29.21 per cent, agriculture machinery and implements 68.16 per cent, office machine including data processing equipment 5.99 per cent, and power generating machinery by 30.86 per cent during the months under review over the same months last year.

Interestingly, a decline was seen in the import of aircraft, ship and boats by 49.55 per cent.

In the agriculture and other chemical group, the imports of fertilizer manufactured rose by 13.26 per cent, insecticide 58.01 per cent, and plastic materials 55.16 per cent. However, the import of medicinal products declined by 8.53 per cent.