Petroleum group imports fell 10.93 percent in the first eight months (July-February) of the current fiscal year (FY24) to $10.578 billion, down from $11.876 billion in the same period previous year, according to the Pakistan Bureau of Statistics (PBS).
According to PBS data on exports and imports, petroleum group imports increased by 1.50 percent year on year (YoY) in February 2024, reaching $1.245 billion from $1.264 billion in February 2023.
They had a 6.07 percent decrease in monthly growth when compared to $1.326 billion in January 2024.
Petroleum product imports fell 23.16 percent from July to February 2023-24, totaling $4.112 billion, compared to $5.352 billion the previous fiscal year.
On a month-over-month basis, they increased by 14.89 percent, reaching $491.234 million in February 2024 from $427.573 million in February 2023. Petroleum products saw a 6.17 percent year-on-year increase from $462.706 million in February 2023.
Overall imports from July to February FY24 were $35.249 billion (provisional), down from $39.969 billion in the same period last year, representing an 11.81 percent decline.
Imports in February 2024 were $4.326 billion (provisional), down 9.33% from $4.771 billion in January 2024, but up 9.94% from $3.935 billion in February 2023.
Petroleum products (Rs. 137,143 million), petroleum crude (Rs. 104,278 million), liquefied natural gas (Rs. 88,732 million), electric machinery and apparatus (Rs. 74,996 million), wheat unmilled (Rs. 63,218 million), palm oil (Rs. 55,579 million), plastic materials (Rs. 51,018 million), mobile phones (Rs. 44,920 million), iron and steel (Rs. 38,410 million) and iron and steel scrap (Rs. 31,906 million).
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