Petroleum and coal exports increased in July – Alfalah Securities Limited
Karachi: According to the Federal Bureau of Statistics (FBS), the exports of petroleum and coal products have increased substantially to USD 157.730 mn in July 2011 against USD 62.453mn in the corresponding period last year, showing an enormous growth of 152.56% YoY while, it has increased 60.66% on MoM basis.
According to Alfalah Securities, the growth is attributable to high exports of Petroleum products (excluding top naptha) which increased by 27.36% on YoY whereas, the exports of petroleum top naptha increased to USD 74.459mn in July 2011 against USD 18.797mn in July 2010. Moreover, the exports of coal stood at USD 0.058 mn from zero, depicting an increase of 100%. The rise in exports bodes well for the external situation and would support the currency situation.