Pakistan’s machinery imports surge by 46% in FY2023-24

Pakistan’s imports of machinery experienced a substantial increase of 46.27 percent during the fiscal year 2023-24 compared to the previous year, according to the Pakistan Bureau of Statistics (PBS).

The total imports of machinery amounted to $8.5 billion in FY2023-24, up from $5.8 billion in FY2022-23, the Associated Press of Pakistan (APP) reported.

This surge is expected to enhance productivity and technological advancement across various sectors, contributing to Pakistan’s economic growth and infrastructure development.

Significant increases were observed in imports of agricultural machinery (122.85%), office machinery (35.31%), electrical machinery (95.67%), telecom equipment (147.36%), and mobile phones (233.10%).

However, imports of power-generating machinery (-16.46%) and textile machinery (-54.52%) declined during the same period.