Pakistan’s Petroleum Imports Soar by 30% in August

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).

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