KARACHI: Transport group imports in Pakistan contracted by 11.46 percent on a yearly basis to $1.03 billion in the first half of the current fiscal year 2013-14 (FY14) as compared to $1.17 billion in same period last fiscal.
According to the latest data released by Pakistan Bureau of Statistics (PBS), the overall imports for the transport sector including road motor vehicle (build unit), completely build units (CBUs) and completely knocked down (CKD) or semi knocked down (SKD) units of motorcars, buses trucks and other heavy vehicles, motorcycles and auto parts and accessories’ imports remained on downward trajectory.
Significant reduction in imports figures was in the CBU motorcars during the first six months (July-December) of FY14, which caused a major dent in the overall transports group’s imports.
The PBS data suggests that the motorcars’ imports went down by 54.77 percent to the value of $87.8 million as compared to the import worth of $194.2 million in the corresponding period of FY 2012-13.
The three years of age-limit restriction on imports of used cars was the main factor behind the dwindling import of this particular segment of the transport group.
Similarly, local auto assemblers could not get enough orders for their CKD motorcars units in the said period as the import value of CKD’s shrank by 12.13 percent to $258.8 million while it was $294.5 million in the corresponding period of last year.
In December 2013, feeling the heat from age limit restriction, imports of CBUs of motorcars went down by 67 percent on yearly basis to the worth of $7.7 million as against the value of $ 24.7 million in the same month of FY13. Not dissimilar on monthly basis as the CBU motorcars’ import declined by 54.56 percent as compared to the import worth of $17.6 million in the month of November 2013.
Likewise, imports of the CKDs of motorcars remained on the descending line as the import of this segment declined by 8 percent to $42.7 million in December 2013 as against $46.4 million in the month of November 2013. However, on yearly basis it increased by 7.54 percent when compared to the worth of $39.7 million in the same month of last fiscal.
Transport sector imported parts and accessories worth of $126.2 million in the first six months of current fiscal, representing 13 percent decline as against the worth of $144.5 million in the same period of FY13.
On the other hand, on yearly basis in the month of December 2013, transport group’s parts and accessories’ import increased by 12 percent to $21.4 million as compared to $19.2 million in the previous month. Similarly it swelled by 20 percent if compared to the worth of 17.8 million in the month of December 2012.
After witnessing an increase in November, CBU motorcars’ import fell again in the month of December by 56.45 percent to the worth of $7.6 million as against $17.6 million in November 2013, also declined enormously by 67 percent on yearly basis when compared to the value of $24.7 million in the same month of FY13.
Similarly, import of CKD units of motorcars also witnessed a 23.29 percent increase to the value of $24.5 million in the month under review against the same month of FY13 whereas it declined by 10 percent as compared to $19.8 million in the month of November 2013.
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