Pakistan’s Petroleum Imports Decline by Over 60% in July

Pakistan’s petroleum group imports witnessed a drop of 60.54 percent on a month-on-month (MoM) basis in July and stood at $1.436 billion compared to $3.639 billion in June 2022, says Pakistan Bureau of Statistics (PBS)

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 and stood at $728.081 million compared to $2.046 billion in June 2022. On a YoY basis imports of petroleum products 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 a MoM basis and stood at $431.103 million compared to $838.798 million in June 2022. On a YoY basis imports of petroleum products 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 a MoM basis and stood at $230.522 million compared to $700 million in June 2022. On a YoY basis, the imports witnessed a growth of 15.15 percent when compared to $271.669 million in July 2021.

Agriculture 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 a 45.31 percent negative group on a MoM basis and 33 percent negative growth on a YoY basis.

Total imports of the country in July 2022 stood at $4.993 billion (provisional) compared to $7.880 billion in June 2022 showing a decrease of 36.63 percent.

Main commodities of imports during July 2022 were petroleum products (Rs. 159,768 million), 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), natural gas liquified (Rs. 50,585 million), iron & steel (Rs. 43,198 million), wheat unmilled (Rs. 23,511 million), raw cotton (Rs. 23,339 million) and iron & steel scrap (Rs. 22,636 million).