ISLAMABAD: Petroleum group imports witnessed a negative growth of 28.03 percent during the first quarter (July-September) of the current fiscal year and stood at $3.501 billion when compared to $4.865 billion during the same period of last fiscal year, the Pakistan Bureau of Statistics (PBS) said.
The data of exports and imports released by PBS revealed that petroleum group imports declined by 14.90 per cent on a year-on-year (YoY) basis and stood at $1.330 billion in September 2023 when compared to $1.563 billion during September 2022.
On a month-on-month basis, it registered 3.55 per cent negative growth when compared to $1.379 million in August 2023. Petroleum products imports witnessed 36.55 per cent negative growth during July-September 2023-24 and remained at $1.515 million compared to $2.388 billion during the same period of last fiscal year.
On a MoM basis, it registered 11.45 per cent negative growth and stood at $544.087 million in September when compared to $614.781 million in August 2023. On a YoY basis, petroleum products registered 25.44 per cent negative growth when compared to $730.107 million in September 2022.
The overall imports during July-September, fiscal year 2023-24 totalled $12.227 billion (provisional) as against $16.329 billion during the corresponding period of last year, showing a decrease of 25.12 percent.
The imports in September 2023 were $3.994 billion (provisional) as compared to$4.528 billion in August 2023, showing a decrease of 11.79 percent and by 24.54 percent as compared to $5.293 billion in September 2022.
The main commodities of imports during September 2023 were petroleum products (Rs162,087 million), petroleum crude (Rs146,179 million), natural gas, liquefied (Rs75,331 million), palm oil (Rs61,388 million), plastic materials (Rs49,628 million), electric machinery and apparatus (Rs44,699 million), iron and steel (Rs44,191 million), mobile phones (Rs37,093 million), iron and steel scrap (Rs27,299 million), and pulses (leguminous vegetables) (Rs22,208 million).
Copyright Business Recorder, 2023
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