ISLAMABAD: Petroleum group imports witnessed 1.68 percent growth during the first four months (July-October) of the current fiscal year 2024-25 and remained $5.113 billion compared to $5.029 billion during the same period of last fiscal year, says Pakistan Bureau of Statistics (PBS).
The exports and imports released by the PBS revealed that imports during July-October 2024 (fiscal year 2024-25) totalled $17.972 billion (provisional) as against $16.977 billion during the corresponding period of last year showing an increase of 5.86 percent. Imports in October 2024 totalled $4.591 billion (provisional) as compared to $4.656 billion in September 2024 showing a decrease of 1.40 percent over September 2024 and of 5.59 percent as compared to $4.863 billion in October, 2023.
On Year-on-Year (YoY) basis, petroleum group imports witnessed 30.55 percent negative growth in October 2024 and remained $1.060 billion compared to $1.527 billion in October 2023. On Month-on-Month (MoM) basis, petroleum group imports witnessed 23.61 percent negative growth when compared to $1.388 billion in September 2024.
Petroleum products import witnessed 18.89 percent negative growth during the first four months (July-October) of current fiscal year 2024-25 and remained $1.753 billion compared to $2.161 billion during the same period of last fiscal year.
On YoY basis, petroleum products imports witnessed 38.34 percent negative growth in October 2024 and remained $398.386 million compared to $646.098 million in October 2023. On MoM basis, petroleum products imports witnessed 22.49 percent negative growth when compared to $513.959 million in September 2024.
Main commodities of imports during October 2024 were petroleum products (Rs110,620 million),petroleum crude (Rs85,050 million), natural gas liquefied (Rs77,451 million), palm oil (Rs76,730 million),plastic materials (Rs62,643 million), iron and steel (Rs57,890 million), electrical machinery and apparatus (Rs50,421 million), mobile phones (Rs48,408 million), fertiliser manufactured (Rs32,568 million)and iron and steel scrap (Rs28,200 million).
Copyright Business Recorder, 2024
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