According to data released by the Pakistan Bureau of Statistics (PBS), petroleum group imports encountered a negative growth of 16.19 percent during the first five months (July-November) of the current fiscal year (FY24) and stood at $6.453 billion compared to $7.7 billion during the same period last fiscal year.
According to the report, imports of petroleum group products fell 13.44 percent year over year (YoY) to $1.424 billion in November 2023 from $1.646 billion in the same month the previous year. Compared to $1.527 million in October 2023, they had a negative rise of 6.70 percent monthly.
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From July to November of 2023–24, imports of petroleum products experienced a negative increase of 25.08 percent, staying at $2.661 billion as opposed to $3.552 billion during the same period of the previous fiscal year.
Compared to $646.098 million in October 2023, they had a negative rise of 22.71 percent on a month-over-month basis, ending at $499.401 million in November. Comparing petroleum products on a year-over-year basis to $708.232 million in November 2022, there was a negative rise of 29.49 percent.
Overall imports
Overall imports between July and November of this year totaled $21.630 billion (provisional), down 17.01 percent from $26.064 billion in the same time previous year.
October 2023 imports were $4.539 billion (provisional) compared to October 2022 imports of $4.864 billion, a 6.68 percent decline, and November 2022 imports of $5.154 billion, an 11.53 percent fall.
Oil and gas (Rs. 161,486 million), petroleum products (Rs. 142,589 million), palm oil (Rs. 60,225 million), iron and steel (Rs. 58,021 million), plastic materials (Rs. 49,610 million), electric machinery and apparatus (Rs. 45,692 million), mobile phones (Rs. 41,843 million), wheat (Rs. 40,510 million), and iron and steel scrap (Rs. 32,503 million) were the main commodities imported in November 2023.
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