ISLAMABAD: Petroleum group imports witnessed 22.73 percent growth during the first two months (July-August) of the current fiscal year 2024-25 and remained $2.664 billion compared to $2.171 billion during the same period of last fiscal year, says Pakistan Bureau of Statistics (PBS).

The exports and imports released by the PBS revealed that imports during July-August, 2024 (fiscal year 2024-25) totaled $8.750 billion (provisional) as against $8.165 billion during the corresponding period of last year showing an increase of 7.16 percent.

On year-on-year (YoY) basis, petroleum group imports witnessed 1.35 percent growth in August 2024 and remained $1.398 billion compared to $1.379 billion in August 2023. On month-on-month (MoM) basis, petroleum group imports witnessed 10.43 percent growth when compared to $1.266 billion in July 2024.

Petroleum products import witnessed 13.41 percent negative growth during the first two months (July-August) of current fiscal year 2024-25 and remained $841.113 million compared to $971.371 million during the same period of last fiscal year.

On YoY basis, petroleum products imports witnessed 44.35 percent negative growth in August 2024 and remained $342.096 million compared to $614.781 million in August 2023. On MoM basis, petroleum products imports witnessed 31.45 percent negative growth when compared to $499.017 million in July 2024.

Main commodities of imports during August, 2024 were petroleum crude (Rs162,679 million), natural gas, liquified (Rs106,422 million), petroleum products (Rs95,288 million), palm oil (Rs71,293 million), electric machinery and apparatus (Rs70,488 million), plastic materials (Rs53,463 million), iron and steel (Rs 34,191 million), fertilizer manufactured (Rs28,836 million), medicinal products (Rs28,558 million) and motor cars (CKD/SKD) (Rs27,580 million).

Copyright Business Recorder, 2024