Pakistan’s petroleum group imports witnessed a growth of 6.97 percent during the first two months (July-August) of the current fiscal year 2023 (FY23) and stood at $3.302 billion compared to $3.087 billion during the same period of last fiscal year, says Pakistan Bureau of Statistics (PBS).

Pakistans Petroleum Imports Soar by 30% in August

According to the latest data released by PBS, in August 2022, the petroleum group imports registered a 29.93 percent growth on a month-on-month (MoM) basis and stood at $1.865 billion compared to $1.436 billion in July 2022. Pakistan’s Petroleum, The import in August registered 6.1 percent growth on a year-on-year (YoY) basis when compared to $1.756 billion in August 2021. Petroleum products witnessed 7.75 percent growth during 2MFY23 and remained at $1.658 billion compared to $1.539 billion during the same period of last fiscal year. On a MoM basis, they remained at $930.566 million in August 2022 compared to $728.081 million in July 2021. On a YoY basis, petroleum product imports witnessed a growth of 4.33 percent against $891.951 million in August 2021.

Petroleum crude imports witnessed a growth of 10.46 percent during the 2MFY23 and remained at $904.522 million compared to $818.884 million during the same period of last year. Pakistan’s Petroleum, On a MoM basis, petroleum crude imports registered a 9.82 percent growth and remained at $473.419 million compared to $431.103 million in July 2022. On a YoY basis, petroleum crude imports witnessed a growth of 7 percent against $442.468 million in August 2021. Natural Gas (Liquefied) imports witnessed a negative growth of 3.37 percent during 2MFY23 and remained at $629.453 million compared to $651.413 million during the same period of last fiscal year. The imports of agricultural and other chemicals group witnessed 23.03 percent negative growth during 2MFY23 and remained at $1.702 billion compared to $2.213 billion during the same period of last fiscal year.

Source: This news is originally published by propakistani

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