Daily Times

The petroleum group imports increased by 1.68 percent during the first four months 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-October (2024-25) stood at $5,113.616 million as against the imports of $5,029.009 million during July-October (2023-24), according to PBS data.

Among petroleum commodities, the import of petroleum products declined by 18.89 percent, from $ 2,161.831 million last year to $1,753.458 million during the time period under review.

However, the imports of petroleum crude increased by 16.80 percent, from $1,486.957 million to $1,736.712 million; natural gas liquefied by 10.97 percent, from $1,176.718 million to $1,305.831 whereas the imports of petroleum gas liquefied went up by 56.03 percent and reached to $203.463 million as compared to $317.472 million last year.

The imports of all other petroleum group products also increased by 257.50 percent and went up to $0.004 million from $0.0143 million.

Meanwhile, on a year-on-year basis, the petroleum group imports witnessed decrease of 30.55 percent during the month of October 2024 as compared to the same month of last year.

The petroleum imports during October 2024 were recorded at $1,060.601 million against the imports of $1,527.147 million during October 2023.

On a month-on-month basis, the petroleum imports into the country, decreased by 23.61 percent during October 2024, as compared to the imports of $1,388,420 million in September 2024, according to the data.

It is pertinent to mention here that the merchandise exports from the country increased by 13.45 percent during the first four months of the current fiscal year as compared to the corresponding months of last year.

Exports during July-October (2024-25) were recorded at $10.880 billion against $9.590 billion during July-October (2023-24), according to PBS data.

On the other hand, imports into the country also went up by 5.17 percent, growing from $16.977 billion last year to $17.854 billion during the first four months of the current year.

Based on the figures, the trade deficit during the months under review was recorded at $6.974 billion against the deficit of $7.387 billion last year, showing a decrease of 5.59 percent.