A sharp decline in the imports of completely knocked-down (CKD) and semi knocked-down (SKD) products has been registered in the first month of the current fiscal year (2022-23) as compared to the same month in the last fiscal year. Percentage decline in the imports of said products has been almost 31% from last year’s imports of the same products in the same month.  

In the month of July of the fiscal year 2021-22, the import of CKD/SKD products was to the tune of $146.577 million. This time around, however, the imports of the same products are recorded at $101.204 million. This shows that there was a decline of $45.373 million worth of imports this July as compared to last July, according to the data from the Pakistan Bureau of Statistics (PBS).

The import of heavy vehicles like buses, trucks and other heavy-duty transport vehicles declined by 17.29%. In the month of July of fiscal year 2021-22, the imports of these vehicles stood at $33.653 million while in the month of July of current fiscal year they stood at $27.835 million. In the same way the imports of cars declined by 36.38% from $106.720 million to $67.896 million.

On a month-on-month basis the decline in CKD/SKD products declined by 46.30 percentage points from the month of June 2022 to the month of July 2022. The amount in decline was $188.464 million. In the same vein, from the month of June 2022 to the month of July 2022, the imports of trucks, buses, and heavy-duty vehicles declined by 38.98% while the decline in the imports of cars was 50.92%. However, the import of motorcycles saw an increase of 5.51% on a month-to-month basis.

Credit : Independent News Pakistan-WealthPk