Petroleum imports dip 45pc: SBP

• Petroleum imports dips by 45.22 percent
• Petroleum imports recorded at $987.918 million

ISLAMABAD: The petroleum group imports into the country during first month of the current financial year (2019-20) dipped by 45.22 percent as compared the corresponding month of last year.

During the month of July, 2019, the petroleum group imports were recorded at $987.918 million as against the imports of $1803.649 million during the same month of last year, showing declined of 45.22 percent, according to the data issued by the State Bank of Pakistan (SBP).

During the period under review, the petroleum products’ imports decreased by 62.34 percent from $365.613 million to $970.948 million, it added.

In July, the petroleum crude worth $319.548 million was imported as against $459.953 million in the same month of last year, showing negative growth of 30.52 percent.

Meanwhile, the import of natural gas witnessed decrease of 18.41 percent from by going down from $365.877 million last year to $298.505million in July 2019 whereas the import of petroleum gas decreased by 38.30 percent, decreasing from $4.239 million to $6.871 million, the data revealed.