Petroleum products import bill shrinks by 9.27pc in 7MFY23
Business
The total imports of the petroleum group during July-January (2022-23) stood at $10,611.74 million
ISLAMABAD (APP) - The imports of the overall petroleum group contracted by 9.27 per cent during the first seven months of the current fiscal year (2022-23) as compared to the corresponding period of last year, the Pakistan Bureau of Statistics (PBS) data reveals.
The total imports of the petroleum group during July-January (2022-23) stood at $10,611.74 million, as against the imports of $11,696.009m during the same period of last year.
Among petroleum commodities, the import of petroleum products declined by 14.73pc from $5,734.241m last year to $4,889.800m during the time period under review.
Likewise, the imports of liquefied natural gas declined by 20.84pc and dropped from $2,769.741m last year to $2,192.489m this year.
On the other hand, the products that witnessed positive growth included petroleum crude, the imports of which grew by 10.9pc, from $2,795.867m last year to $3,100.482m whereas imports of liquefied petroleum gas increased by 8.26pc, from $395.977m to $428.687m.
The imports of all other petroleum products increased by 54.08pc, from $0.183m to $0.282m.
Meanwhile, on a year-on-year basis, the petroleum group imports witnessed a decrease of 12.42pc during the month of January 2023 as compared to the same months of last year.
The petroleum imports during January 2023 were recorded as $1,326.208m against the imports of $1,514.244m during January 2022.
On a month-on-month basis, the petroleum imports into the country declined by 16.34pc during January 2023, as compared to the imports of $1,585.263m December 2022, said the PBS data.
