Imports of petroleum group contract by 17.96pc in 10 months  


ISLAMABAD – The imports of the overall petroleum group contracted by 17.96 percent during the first ten months of the current fiscal year (2022-23) as compared to the corresponding period of the last year, the Pakistan Bureau of Statistics (PBS) reported.

The total imports of the petroleum group during July-April (2022-23) stood at $13,974.610 million, as against the imports of $17,033.574 million during the same period of last year, according to PBS data. Among petroleum commodities, the import of petroleum products declined by 28.07 percent, from $8,549.224 million last year to $6,149.117 million during the time period under review.

Likewise, the imports of liquefied natural gas declined by 16.06 percent and dropped from $3,705.959 million last year to $3,110.836 million this year whereas petroleum crude dipped by 1.98 percent from $4,221.208 million to $4,137.726 million.

On the other hand, the products that witnessed positive growth included liquefied petroleum gas, the imports of which grew by 3.53 percent, from $556.962 million last year to $ 576.618 million whereas imports of all other petroleum products increased by 41.28 percent, from $ 0.222 million to $0.313 million. Meanwhile, on a year-on-year basis, the petroleum group imports witnessed a decrease of 59.91 percent during the month of April 2023 as compared to the same months of last year.

The petroleum imports during April 2023 were recorded as $891.468 million against the imports of $2,223.515 million during April 2022. On a month-on-month basis, the petroleum imports into the country also declined by 26.11 percent during April 2023, as compared to the imports of $1,206.434 million in March 2023, said the data.

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