Petroleum imports up by 15.74pc in 1st quarter
Business
The imports of overall petroleum group during July-September (2024-25) stood at $4,053.017mn
ISLAMABAD (APP) - The petroleum group imports increased by 15.74 percent during the first quarter of the current fiscal year as compared to the imports of the same months of last year, the Pakistan Bureau of Statistics (PBS) reported.
The imports of overall petroleum group during July-September (2024-25) stood at $4,053.017 million as against the imports of $3,501.860 million during July-September (2023-24), according to PBS data.
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Among petroleum commodities, the import of petroleum products declined by 10.60 percent, from $ 1,355.072 million last year to $ 1,515.733 million during the time period under review.
However, the imports of petroleum crude increased by 51.02 percent, from $ 947.176 million to $ 1,430.416 million; natural gas liquefied by 14.30 percent, from $898.428 million to $ 1,026.900 whereas the imports of petroleum gas liquefied went up by 71.19 percent and reached to $240.503 million as compared to $140.489 million last year.
The imports of all other petroleum group products also increased by 270.59 percent and went up to $0.126 million from $0.034 million.
Meanwhile, on a year-on-year basis, the petroleum group imports witnessed an increase of 4.33 percent during the month of September 2024 as compared to the same month of last year.
The petroleum imports during September 2024 were recorded at $1,388.420 million against the imports of $1,330.748 million during September 2023.
On a month-on-month basis, the petroleum imports into the country however, decreased by 0.71 percent during September 2024, as compared to the imports of $1,398.324 million in July 2024, according to the data.
It is pertinent to mention here that the merchandize exports from the country increased by 14.11 percent during the first three months of the current fiscal year as compared to the corresponding months of last year.
Exports during July-September (2024-25) were recorded at $7.875 billion against $6.901 billion during July-September (2023-24), according to PBS data.
On the other hand, imports into the country also went up by 9.86 percent by growing from $12.115 million last year to $13.310 million during the first three months of the current year.
Based on the figures, the trade deficit during the months under review was recorded at $5.435 billion against the deficit of $5.214 billion last year, showing an increase of 4.24 percent.
