Pakistan's petroleum imports plummet by 24pc
Business
According to a PBS report, 16.06pc decrease in liquefied natural gas was also observed
LAHORE (Dunya News) - During the first 10 months of the current fiscal year, overall petroleum imports witnessed a decline of 17.96 percent during the corresponding period last year.
According to Pakistan Bureau of Statistics (PBS), during the period from July to April (2022-23), the total petroleum group imports amounted to $13,974.610 million, while during the same period last year, it was recorded at $17,033.574 million. Petroleum products imports plunged by 28.07 percent, which was $8,549.224 million last year.
According to the report, 16.06 percent decrease in liquefied natural gas was also observed, which amounted to $3,110.836 million this year as compared to $3,705.959 million last year. Crude oil imports decreased by 1.98 percent, falling from $4,221.208 million to $4,613.277 million.
On the other hand, Liquid Petroleum Gas (LPG) showed growth in imports, an increase of 3.53 percent was observed. The imports reached $576.618 million compared to $556.962 million last year.
On month-to-month basis, during the month of April 2023, petroleum group imports witnessed a decrease of 59.91 percent compared to the same months of the previous year. The imports in April 2023 was recorded at $891.468 million, while in April 2022, it was $2,223.515 million.
According to the figures, there has been a 26.11 percent decrease in petroleum imports in the country on a month-to-month basis during April 2023.
