ISLAMABAD: Petroleum group imports witnessed a negative growth of 60.54 percent on a month-on-month basis (MoM) as it remained $1.436 billion compared to $3.639 billion in June 2022, says the Pakistan Bureau of Statistics (PBS).

The data of exports and imports released by the PBS revealed that the country’s textile group exports witnessed a negative growth of 13.21 percent on a MoM basis and remained $1.481 billion in July 2022 compared to $1.706 billion in June 2022.

On a year-on-year (YoY) basis, petroleum group imports witnessed a growth of 7.96 percent when compared to $1.330 billion in July 2021.

Petroleum products witnessed 64.43 percent negative growth on a MoM basis as it remained $728.081 million compared to $2.046 billion in June 2022. On a YoY basis, petroleum products imports witnessed a growth of 12.45 percent when compared to $647.467 million in July 2021.

Petroleum crude imports witnessed a negative growth of 48.6 percent on MoM as it remained $431.103 million compared to $838.798 million in June 2022. On a YoY basis, petroleum products’ imports witnessed a growth of 14.53 percent when compared to $376.416 million in July 2021.

Natural Gas, Liquified imports witnessed a negative growth of 67 percent on MoM as it remained $230.522 million compared to $700 million in June 2022. On YoY basis, Natural Gas, Liquified imports witnessed a growth of 15.15 percent when compared to $271.669 million in July 2021.

Agricultural and other chemicals group imports witnessed 26.89 percent negative growth on a MoM basis and 18.9 percent on a YoY basis. The transport group witnessed 45.31 percent negative group on a MoM basis and 33 percent negative growth on a YoY basis.

Total imports of the country during imports in July 2022 were $4.993 billion (provisional) as compared to $7.880 billion in June 2022 showing a decrease of 36.63 percent and by 10.43 percent as compared to $5.575 billion in July 2021.

Main commodities of imports during July 2022 were petroleum products (Rs159,768 million), petroleum crude (Rs94,600 million), palm oil (Rs65,691 million), electrical machinery and apparatus (Rs53,306 million), plastic materials (Rs53,061 million), natural gas liquefied (Rs50,585 million), iron and steel (Rs43,198 million), wheat unmilled (Rs23,511 million), raw cotton (Rs23,339 million), and iron and steel scrap (Rs22,636 million).

The country’s textile group exports witnessed a negative growth of 13.21 percent on MoM basis and remained $1.481 billion in July 2022 compared to $1.706 billion in June 2022. On a YoY basis, textile groups’ exports witnessed a growth of 0.67 percent when compared to $1.471 billion in July 2021.

Raw cotton exports registered 100 percent growth in July 2022 on MoM as well as on a YoY basis.

Cotton yarn exports registered 24.18 percent negative growth in July on a MoM basis and remained $71 million compared to $94 million in June 2022, while on a YoY basis it registered 20.59 percent negative growth when compared to $89.87 million in July 2021.

The country total exports in July 2022 were $2.254 billion (provisional) as compared to $2.918 billion in June 2022 showing a decrease of 22.74 percent and by 3.65 percent as compared to $2.340 billion in July 2021.

Main commodities of exports during July 2022 were knitwear (Rs95,439 million), readymade garments (Rs66,835 million), bed wear (Rs55,735 million), cotton cloth (Rs39,934 million), rice others (Rs20,414million), towels (Rs16,450 million), cotton yarn (Rs15,660 million), madeup articles (excl towels and bed wear) (Rs12,008 million), rice basmati (Rs9,996 million), and vegetables (Rs9,661 million).

Copyright Business Recorder, 2022