ISLAMABAD: Petroleum group imports witnessed a growth of 5.94 percent during the first quarter (July-September) of the current fiscal year 2022-23 and remained $4.865 billion compared to $4.592 billion during the same period of last fiscal year, says Pakistan Bureau of Statistics (PBS).
The data of exports and imports released by the PBS revealed that petroleum group imports registered 16.19 percent negative growth on a month-on-month (MoM) basis in September 2022 and remained $1.563 billion compared to $1.865 billion in August and registered 3.85 percent growth on a year-on-year (YoY) basis when compared to $1.505 billion in September 2021.
Petroleum products witnessed 9.79 percent growth during the first quarter of the current fiscal year and remained $1.2388 billion compared to $2.175 billion during the same period of the last fiscal year.
On MoM basis, it remained $730 million in September 2022 compared to $930.566 million in August 2022 and registered 21.54 percent negative growth. On a YoY basis, petroleum products imports witnessed a growth of 14.75 per cent when compared to $636.282 million in September 2021.
Petroleum crude imports witnessed a growth of 7.98 percent during the first quarter of the current fiscal year 2022-23 and remained $1.355 billion when compared to $1.254 million during the same period of last year. On a MoM basis, petroleum crude imports registered 4.84 percent negative growth and remained $450.503 million compared to $473.419 million in August 2022. On a YoY basis, petroleum crude imports witnessed a growth of 3.32 percent when compared to $436.019 million in September 2021.
Natural gas, liquefied imports witnessed a negative growth of 5.35 percent during the first quarter of the current fiscal year and remained at $969.778 million compared to $1.024 billion during the same period of last fiscal year.
Agricultural and other chemicals group imports witnessed 22.91 percent negative growth during the first quarter of the current fiscal year and remained at $2.635 billion compared to $2.3418 billion during the same period of last fiscal year.
Machinery group imports witnessed 37.89 percent negative growth during the first quarter of the current fiscal year and remained at $1.769 billion compared to $2.848 billion during the same period of last fiscal year. Power generation machinery registered 71.47 percent negative growth during the first quarter of the current fiscal year and remained $151.142 million compared to $525.780 million during the same period of the last fiscal year.
Transport group imports witnessed 45.17 percent negative growth during the first quarter of the current fiscal year and remained at $605.638 million compared to $1.104 billion during the same period of last fiscal year.
Food group imports witnessed 15.21 percent growth during the first quarter of the current fiscal year and remained at $2.723 billion compared to $2.364 billion during the same period of last fiscal year.
The country’s imports during July–September 2022 totaled $16.400 billion (provisional) as against $18.715 billion during the corresponding period of last year showing a decrease of 12.37 percent. The imports in September 2022 were $5.347 billion (provisional) as compared to $6.071 billion in August 2022 showing a decrease of 11.93 percent and by 18.53 percent as compared to $6.563 billion in September 2021.
Main commodities of imports during September 2022 were petroleum products (Rs168,266 million), petroleum crude (Rs103,825 million), palm oil (Rs96,673 million), natural gas, liquefied (Rs78,433 million), plastic materials (Rs47,429 million), iron and steel (Rs40,657 million), medicinal products (Rs38,971 million), raw cotton (Rs28,699 million), iron and steel scrap (Rs27,172 million), and wheat unmilled (Rs22,560 million).
Pakistan’s trade deficit narrowed by 21.32 percent during the first quarter (July-September) of the current fiscal year and stood at $9.221 billion compared to $11.719 billion during the same period of last fiscal year.
Copyright Business Recorder, 2022
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