ISLAMABAD: Petroleum group imports witnessed a negative growth of 16.19 per cent during the first five months (July-November) of the current fiscal year and stood at $6.453 billion when compared to $7.7 billion during the same period of last fiscal year, Pakistan Bureau of Statistics (PBS) said.
The data of exports and imports released by PBS revealed that petroleum group imports decreased by 13.44per cent on a year-on-year (YoY) basis and stood at $1.424 billion in November 2023 when compared to $1.646 billion during November 2022.
On a month-on-month basis, it registered 6.70per cent negative growth when compared to $1.527 million in October 2023.
Jul-Oct: Petroleum group imports register negative growth of 16.93pc
Petroleum products imports witnessed 25.08 per cent negative growth during July-November 2023-24 and remained at $2.661 billion compared to $3.552 billion during the same period of last fiscal year.
On a MoM basis, it registered 22.71per cent negative growth and stood at $499.401 million in November when compared to $646.098 million in October 2023.
On a YoY basis, petroleum products registered 29.49per cent negative growth when compared to $708.232 million in November 2022. The overall imports during July-November, fiscal year 2023-24 totalled $21.630billion (provisional) as against $26.064 billion during the corresponding period of last year showing a decrease of 17.01per cent.
The imports in October 2023 were $4.539 billion (provisional) as compared to $4.864 billion in October 2023 showing a decrease of 6.68per cent and by 11.53 per cent as compared to $5.154 billion in November 2022.
The main commodities of imports during November 2023 were petroleum crude (Rs161,486 million),petroleum products (Rs142,589 million), natural gas, liquefied (Rs82,715 million), palm oil (Rs60,225 million),iron and steel (Rs58,021 million), plastic materials (Rs49,610 million), electric machinery and apparatus(Rs45,692 million), mobile phones (Rs41,843 million), wheat un-milled (Rs40,510 million),and iron and steel scrap (Rs32,503 million).
Copyright Business Recorder, 2023
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