Petroleum group imports witnessed a negative growth of 16.19 percent during the first five months (July-November) of the current fiscal year (FY24) and stood at $6.453 billion compared to $7.7 billion during the same period of last fiscal year, according to data released by the Pakistan Bureau of Statistics (PBS). The data revealed that petroleum group imports decreased by 13.44 percent 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, they registered 6.70 percent negative growth when compared to $1.527 million in October 2023. Petroleum products imports witnessed 25.08 percent 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, they registered 22.71 percent 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 29.49 percent negative growth when compared to $708.232 million in November 2022. Overall imports The overall imports during July-November stood at $21.630 billion (provisional) as against $26.064 billion during the corresponding period of last year, showing a decrease of 17.01 percent. The imports in October 2023 were $4.539 billion (provisional) as compared to $4.864 billion in October 2023 showing a decrease of 6.68 percent and by 11.53 percent as compared to $5.154 billion in November 2022. Main commodities of imports during November 2023 were Petroleum crude (Rs. 161,486 million), Petroleum products (Rs. 142,589 million), Natural gas, liquified (Rs. 82,715 million), Palm oil (Rs. 60,225 million), Iron and steel (Rs. 58,021 million), Plastic Materials (Rs. 49,610 million), Electric machinery and apparatus (Rs. 45,692 million), Mobile phones (Rs.41,843 million), Wheat unmilled (Rs. 40,510 million) and Iron and steel scrap (Rs. 32,503 million).
Source: Pro Pakistani