The country has invested $ 2.131 billion on imports during the first six months (July-December) of the current fiscal year as compared to $ 1.596 billion during the same period last year, showing an increase of 34 percent. According to foreign trade figures released by the Federal Bureau of Statistics (FBS), power generation machinery showed 19.4 percent increase from $ 144 million to $ 172 million due to development activities by Wapda and Independent Power Producers (IPPs).
Textile sector, which is the major contributor in exports, imported machinery worth $ 451 million as compared to $ 266 million during the same period last year, showing an increase of 70 percent.
Construction sector imported machinery worth $ 73 million against the previous $ 51 million.
The import of electrical machinery increased by 7.5 percent whereas vehicle import increased by 27 percent to $ 390 million from $ 308 million.
Agriculture sector investment and imported machinery: $ 19 million against $ 11 million last year.
Growth in import of office machines including data processing equipment indicated 11.3 percent increase.
The oil import bill increased by 38 percent to $ 1.870 billion as compared to $ 1.356 billion. The bill of refined petroleum products was $ 808 million against $ 600 million last year, indicating an increase of 35 percent while crude oil import stood at $ 1.061 billion as compared to $ $ 756 million, showing a growth of 40.4 percent in terms of volume and price.
Textile group, which comprises synthetic fibre, artificial silk yarn and worn clothing, took away $ 1.798 billion as compared to $ 1.308 billion, showing an increase of 37.5 percent.
The country spent $ 473 million on the import of iron and steel scarp in addition to aluminum against $ 316 million, previously.
According to statistics made available by the FBS, the import of food items stood at $ 578 million against $ 493 million, indicating an increase of 17 percent of which $ 12.3 million have been spent on the import of milk, cream and milk food for infants as compared to $ 8.8 million.
Import of tea stood at $ 104 million against $ 94 million, showing an increase of 10.1 percent.
EXPORTS: Exports showed positive growth of 10.45 percent during the first six months. Textile sector exports declined as textile-related products fetched $ 3.736 billion as compared to $ 3.832 billion during the same period last year due to the imposition of embargo by the United States.
The export of cotton yarn was badly affected, as it declined by 13.4 percent from $ 517 million as compared to $ 448 million, while the export of cotton cloth increased by 2.2 percent to $ 785 million from $ 768 million.
Knitwear earned $ 987 million as compared to $ 698 million, indicating 41.3 percent growth.
The export of bed-wear declined by 23 percent while towels earned 20.2 percent more than the last year. Primary commodities including rice, raw cotton, fish, fruits, vegetables, tobacco, wheat and spices attracted $ 541 million against $ 504.7 million, showing a growth of 7.16 percent.
The export of Basmati rice increased by 10.5 percent while other categories showed nearly one percent growth.
Basmati and other categories attracted about $ 600 million while raw cotton earned $ 123 million against $ 92 million last year. However, other products of textile sector earned $ 1.126 billion.
Pakistan did not export crude oil during the first six months of the current fiscal year, whereas last year, the export of crud oil earned $ 18 million.
However, the export of refined petroleum products increased by 79 percent to $ 184.3 million as compared to $ 103 million.
The export of support goods has declined by 11 percent of which football was the only product, which showed growth of 46 percent while export of gloves and others goods declined by 37 percent and 49 percent, respectively.