World News | Pakistan's Imports Rise as Food, Machinery and Vehicle Purchases Surge
Get latest articles and stories on World at LatestLY. Food imports emerged as a major contributor, with Pakistan importing food products worth USD 805.4 million in July, equivalent to more than Rs 224 billion, Samaa TV reported. The imports included baby milk and cream, spices, soybeans, palm oil, sugar and pulses.
Islamabad [Pakistan], August 22 (ANI): Pakistan's import bill witnessed a broad-based increase in July, driven by higher purchases of food products, machinery, vehicles, transport equipment, textile inputs, agricultural equipment, chemicals and metals, according to a report by Samaa TV.
Food imports emerged as a major contributor, with Pakistan importing food products worth USD 805.4 million in July, equivalent to more than Rs 224 billion, Samaa TV reported. The imports included baby milk and cream, spices, soybeans, palm oil, sugar and pulses.
Imports of baby milk and cream alone rose 25 per cent to USD 18.7 million. Pakistan also imported 112 metric tonnes of sugar during July, despite government claims that around 108,000 metric tonnes of sugar are currently available as surplus in the country, according to Samaa TV.
According to the report, machinery imports recorded one of the sharpest increases, rising 41 per cent to USD 1.31 billion during the month. The category included equipment for power generation, offices, textiles, agriculture, construction and telecommunications.
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The rise indicates increased demand for imported machinery and equipment across several productive and infrastructure-related sectors, Samaa TV said.
According to the report, Imports of transport equipment, including vehicles, climbed 40 per cent to a record USD 420 million. The sharp rise in vehicle and transport purchases added significantly to Pakistan's overall import bill. Textile-related imports, including raw cotton, also increased 15 per cent to USD 680 million, highlighting the sector's continued reliance on imported inputs and raw materials.
Imports of agricultural equipment and chemicals rose 23 per cent, with their combined value exceeding USD 1 billion, according to figures cited by Samaa TV. Metal imports, including gold, steel and iron, also increased 23 per cent. Imports of precious metals alone crossed USD 730 million, further adding to external spending.
The broad-based rise in imports pushed Pakistan's national trade deficit up by 26 per cent, Samaa TV reported. The latest figures underline continued pressure on Pakistan's external account as purchases of food, machinery, vehicles, textile inputs, agricultural products and metals continue to rise. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)