The imports of the overall petroleum group contracted by 11.7 percent during the first nine months of the current fiscal year (2022-23) as compared to the corresponding period of the last year, the Pakistan Bureau of Statistics (PBS) reported on April 19, 2023. The total imports of the petroleum group during July-March (2022-23) stood at $13,083.1 million, as against the imports of $14,810.1 million during the same period of last year, according to PBS data.Among petroleum commodities, the import of petroleum products declined by 19.9 percent, from $7,287.5 million last year to $5,836.5 million during the time period under review. Likewise, the imports of liquefied natural gas declined by 14.1 percent and dropped from $3,320.7 million last year to $2,852.2 million this year.On the other hand, the products that witnessed positive growth included petroleum crude, the imports of which grew by 4.7 percent, from $3,687.7 million last year to $3,860.7 million whereas imports of liquefied petroleum gas increased by 3.8 percent, from $514.0 million to $533.4 million.The imports of all other petroleum products increased by 27.2 percent, from $0.2 million to $0.3 million. Meanwhile, on a year-on-year (YoY) basis, the petroleum group imports witnessed a decrease of 35.2 percent during the month of March 2023 as compared to the same months of last year. The petroleum imports during March 2023 were recorded as $1,206.4 million against the imports of $1,861.6 million during March 2022. On a month-on-month (MoM) basis, the petroleum imports into the country also declined by 4.6 percent during March 2023, as compared to the imports of $1,265. million in February 2023, said the data.
Source: IBP