ISLAMABAD: Petroleum group imports witnessed a negative growth of 0.28 per cent during the first 11 months (July-May) of the current fiscal year 2023-24 and remained $15.338 billion compared to $15.382 billion during the same period of last fiscal year, says the Pakistan Bureau of Statistics (PBS).

The data of exports and imports released by the PBS revealed that petroleum group imports in May 2024 remained at $1.577 billion compared to $1.676 billion in April and registered 5.90 per cent negative growth while on a year-on-year (YoY) basis; it registered 12.09 per cent growth when compared to $1.407 million in May 2023.

Petroleum products imports witnessed 11.69 per cent negative growth during the first eleven months of the current fiscal year and remained at $5.959 billion compared to $6.748 billion during the same period of the last fiscal year.

On a MoM basis, it remained $676.417 million in May 2024 compared to $673.313 million in April 2024 and registered a 12.91 per cent growth when compared to 599.080 million dollars in May 2023.

The imports during July-May, 2023-24 totalled $49.848 billion (provisional) as against $51.010 billion during the corresponding period of last year showing a decrease of 2.28 percent.

The imports in May 2024 were $ 4,948 million (provisional) as compared to $4.846 billion in April 2024 showing an increase of 2.10 percent over April 2024 and increased by 14.96 percent as compared to $ 4,304 million in May 2023.

The main commodities of imports during May 2024 were petroleum products (Rs188,213 million), petroleum crude (Rs139,096 million), electric machinery and apparatus (Rs102,630 million), natural gas, liquefied (Rs90,251 million), palm oil (Rs64,276 million), iron and steel (Rs57,624 million), plastic materials (Rs50,812 million), mobile phones (Rs44,198 million), medicinal products (Rs32,719 million) and iron and steel scrap (Rs31,537 million).

Copyright Business Recorder, 2024

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