Pakistan witnessed significant growth in its scrap metal and iron/steel imports in May of this year. Let’s delve into the key figures:
Scrap Metal Imports
- Quantity: 250,734 metric tons of scrap metal were imported into Pakistan in May.
- Growth Rate: This represents a 50.1% increase compared to last year’s period and a 36.1% rise from April.
- Value: The imports were valued at $113.34 million in May.
- Monthly Increase: The value of scrap metal imports surged 36.5% from the previous month.
- Annual Increase: Year over year, the value increased by an impressive 66.1%.
Iron and Steel Imports
- Quantity: Pakistan imported 302,412 metric tons of iron and steel in May.
- Growth Rate: This reflects a 28.5% increase from the previous month and a substantial 67.6% growth compared to last year.
- Value: The imports of iron and steel were valued at $207.10 million.
- Monthly Increase: The value rose by 8.3% from April.
- Annual Increase: Yearly, the value increased by 46.7%.
These import trends indicate a robust demand for raw materials in Pakistan’s industrial sector. As the economy recovers, the steel and scrap metal industries play a crucial role in driving growth.
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