ISLAMABAD: Imports of motor cars, both Completely Built Up (CBU) as well as Semi-Knocked Down (SKD) or Completely Knocked Down (CKD), witnessed sharp decline of 66 percent and 40.37 percent respectively during first half of current fiscal year compared to last year.

According to Pakistan Bureau of Statistics, imports of CKD/SKD were recorded at $ 722.524 million during July-December (2022-23) as compared to imports of $ 1211.577 million during July-December (2021-22), showing decline of 40.37 percent.

Likewise, Pakistan imported CBU motorcars worth $ 108.453 million during July-December as compared to imports of $ 318.999 last year, showing decline of 66 percent. Overall, transport group imports declined by 49 percent. Imports of group were recorded at $ 1,163.005 million as compared to imports of $ 2,318.457 million last year.

Overall merchandise imports into country decreased by 22.97 percent during period under review by going down from $ 40,563 million last year to $ 31,245 million during current year.

Exports were recorded at $ 14,258 million against exports of $ 15,125 million last year, showing decline of 5.73 percent. Based on figures, trade deficit during first six months of current fiscal year witnessed decline of 33.22 percent and was recorded at $ 16,987 million this year against deficit of $ 25,438 million last year.

Published in The Daily National Courier, January, 31 2023

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