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Pakistan’s Petroleum Imports Fall 12% in 7 Months of FY24

Petroleum group imports witnessed a negative growth of 12.06 percent during the first seven months (July-January) of the current fiscal year and stood at $9.332 billion when compared to $10.611 billion during the same period of last fiscal year, Pakistan Bur

 

The data on exports and imports released by PBS revealed that petroleum group imports increased by 0.03 percent on a year-on-year (YoY) basis and stood at $1.327 billion in January 2024 when compared to $1.326 billion during January 2023.

 

On a month-on-month basis, they registered 14.52 percent negative growth when compared to $1.551 billion in December 2023.

 

Petroleum products imports witnessed 25.94 percent negative growth during July-January 2023-24 and remained at $3.621 billion compared to $4.889 billion during the same period of last fiscal year.

On a MoM basis, they registered 19.72 percent negative growth and stood at $427.573 million in January 2024 when compared to $532.615 million in December 2023. On a YoY basis, petroleum products registered 37.82 percent negative growth when compared to $687.613 million in January 2023.

The overall imports during July-January of the fiscal year 2023-24 totaled $30.938 billion (provisional) against $36.034 billion during the corresponding period of last year, showing a decrease of 14.14 percent.

 

The imports in January 2024 were $4.771 billion (provisional) compared to $4.650 billion in December 2023 showing an increase of 2.60 percent over December 2023 but decreased by 1.14 percent compared to $4.826 billion in January 2023.

The main commodities of imports during January 2024 were Natural gas, liquified (Rs. 124,784 million), Petroleum products (Rs. 119,858 million), Petroleum crude (Rs. 102,735 million), Electric machinery & apparatus (Rs. 78,626 million), Palm oil (Rs. 62,595 million), Plastic Materials (Rs. 57,418 million), Mobile phones (Rs. 54,642 million), Fertilizer manufactured (Rs. 50,102 million), Wheat unmilled (Rs. 49,434 million) and Iron and steel (Rs. 43,799 million).

eau of Statistics (PBS) said.

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