Petroleum group imports fell 12.06 percent in the first seven months (July-January) of the current fiscal year to $9.332 billion, down from $10.611 billion in the same period previous year, according to the Pakistan Bureau of Statistics (PBS).
PBS statistics
PBS statistics on exports and imports revealed that petroleum group imports climbed by 0.03 percent year on year (YoY) to $1.327 billion in January 2024, up from $1.326 billion in January 2023. They saw 14.52 percent negative growth month after month, compared to $1.551 billion in December 2023.
Petroleum product imports
Petroleum product imports fell 25.94 percent from July to January 2023-24, totaling $3.621 billion, compared to $4.889 billion the previous fiscal year.
On a month-over-month basis, they fell 19.72 percent to $427.573 million in January 2024, down from $532.615 million in December 2023.
Petroleum goods
Petroleum goods experienced a 37.82 percent year-on-year decline when compared to $687.613 million in January 2023.
Overall imports from July to January of fiscal year 2023-24 reached $30.938 billion (provisional), compared to $36.034 billion during the same period previous year, a 14.14 percent decline.
Imports in January 2024
Imports in January 2024 were $4.771 billion (provisional) compared to $4.650 billion in December 2023, representing a 2.60 percent rise over December 2023 but a 1.14 percent reduction from $4.826 billion in January 2023.
Natural gas, liquified (Rs. 124,784 million), petroleum products (Rs. 119,858 million), petroleum crude (Rs. 102,735 million), electric machinery and apparatus (Rs. 78,626 million), palm oil (Rs. 62,595 million), plastic materials (Rs. 57,418 million), mobile phones (Rs. 54,642 million), fertiliser manufactured (Rs. 50,102 million), wheat unmilled (Rs. 49,434 million) and iron and steel (Rs. 43,799 million)
To read our blog on “Petrol price slashes by Rs. 14 and HSD by Rs. 13.50/liter,” click here
