Pakistan’s petroleum group imports posted a decrease of 60.54 percent on a month-on-month (MoM) basis in July and were recorded at $1.436 billion against $3.639 billion in June 2022, according to the Pakistan Bureau of Statistics (PBS).
While on a year-on-year (YoY) basis, petroleum group imports grew 7.96 percent as compared to $1.330 billion in July 2021.
Petroleum products posted a 64.43 percent negative growth on an MoM basis and stood at $728.081 million against $2.046 billion in June 2022. On a YoY basis, petroleum product imports saw an increase of 12.45 percent against $647.467 million in July 2021.
Moreover, petroleum crude imports recorded negative growth of 48.6 percent on an MoM basis and remained at $431.103 million against $838.798 million in June 2022. The PBS further said that on a YoY basis imports of petroleum products saw a growth of 14.53 percent as compared to $376.416 million in July 2021.
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The imports of natural Gas (Liquified) posted a hike of 67 percent on an MoM basis and stood at $230.522 million as compared to $700 million in June 2022. Likewise, imports witnessed a growth of 15.15 percent, on a YoY basis, against $271.669 million in July 2021.
In addition, agriculture and other chemicals group imports showed a 26.89 percent negative growth on an MoM basis while 18.9 percent on a YoY basis. The transport group saw a decline of 45.31 percent on an MoM basis and 33 percent negative growth on a YoY basis.
The data revealed that total imports of the country in July 2022 stood at $4.993 billion (provisional) against $7.880 billion in June 2022, posting a 36.63 percent decrease.
The key commodities of imports during July 2022 were petroleum products (Rs.159,768 million), followed by petroleum crude (Rs.94,600 million), palm oil (Rs.65,691 million), electrical machinery & apparatus (Rs.53,306 million), plastic materials (Rs.53,061 million), liquefied natural gas (Rs.50,585 million), iron & steel (Rs.43,198 million), unmilled wheat (Rs.23,511 million), raw cotton (Rs.23,339 million) and iron & steel scrap (Rs.22,636 million).