According to the Pakistan Bureau of Statistics, Pakistan’s Petroleum group imports fell 8.8 percent in the first half (July-December) of the current fiscal year 2022-23 (FY23) to $9.285 billion from $10.181 billion in the same period last fiscal year (PBS).
The PBS data on exports and imports revealed that petroleum group imports were 3.7 percent lower month on month (MoM) in December 2022, standing at $1.585 billion compared to $1.646 billion in November, and were 12.02 percent lower year on year (YoY) when compared to $1.801 billion in December 2021.
Petroleum products experienced 16.90 percent negative growth during the first half of the current fiscal year, totaling $4.202 billion versus $5.056 billion during the same period last year.
They were $649.862 million in December 2022 compared to $708.234 million in November 2022, representing an 8.24 percent decrease.
Petroleum product imports fell 27.84 percent year on year, from $900.64 million in December 2021 to $900.64 million in December 2022.
Petroleum crude imports increased by 15.17 percent during the first half of the current fiscal year 2022-23, reaching $2.776 billion from $2.410 billion during the same period last year.
On a month-to-month basis, petroleum crude imports fell 7.90 percent to $502.858 million in December 2022, from $545.984 million in November 2022.
Petroleum crude imports increased by 41.93 percent year on year, reaching $354.299 million in December 2021.
Natural gas (liquefied) imports fell 18.72 percent in the first half of the current fiscal year, remaining at $1.949 billion compared to $2.398 billion in the same period the previous fiscal year.
Chemicals used in agriculture and other industries
Agricultural and other chemicals group imports fell 34.79 percent in the first half of the current fiscal year, totaling $5.175 billion, compared to $7.937 billion in the same period last year.
Group of machinery
Machinery group imports fell 45.29 percent in the first half of the current fiscal year, totaling $3.236 billion versus $5.915 billion in the same period the previous fiscal year.
Power generation machinery grew by 70.89 percent during the first half of the current fiscal year, reaching $288.320 million from $990.356 million during the same period last year.
Transport Organization
Transport group imports fell 49.84 percent in the first half of the current fiscal year, totaling $1.163 billion, compared to $2.318 billion in the same period last year.
Food Classification
Food group imports increased by 2.41 percent in the first half of the current fiscal year, reaching $4.914 billion from $4.798 billion in the same period last year.
Total imports
The country’s imports were $31.245 billion (provisional) during the July-December fiscal year 2022-23, down 22.97 percent from $40.563 billion during the same period last year.
Imports in December 2022 were $5.154 billion (provisional) compared to $5.182 billion in November 2022, representing a 0.54 percent decrease and a 32.01 percent decrease compared to $7.580 billion in December 2021.
The trade deficit
Pakistan’s trade deficit shrank by 33.22 percent during the first half of the current fiscal year (July-December) to $16.987 billion, down from $25.438 billion during the same period last year.
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