Petroleum group imports witnessed a negative growth of 8.11 percent during the first five months (July-October) of the current fiscal year 2022-23 (FY23) and stood at $7.7 billion compared to $8.379 billion during the same period of last fiscal year, says Pakistan Bureau of Statistics (PBS).
The data PBS revealed that petroleum group imports registered 38.56 percent growth on a month-on-month (MoM) basis in November 2022 and stood at $1.646 billion compared to $1.188 billion in October. The imports registered 24.58 percent negative growth on a year-on-year (YoY) basis when compared to $2.182 billion in November 2021.
Petroleum products witnessed 14.52 percent negative growth during the first five months of the current fiscal year and stood at $3.552 billion, compared to $4.155 billion during the same period of the last fiscal year.
On a MoM basis, they stood at $708 million in November 2022 compared to $455.341 million in October 2022 and registered 55.54 percent growth. On a YoY basis, petroleum products imports witnessed a negative growth of 43.84 percent when compared to $1.261 billion in November 2021.
Petroleum crude imports witnessed a growth of 10.55 percent during the first five months of the current fiscal year 2022-23 and stood at $2.273 billion when compared to $2.056 billion during the same period of last year. On a MoM basis, petroleum crude imports registered 46.64 percent growth and stood at $545.984 million in November 2022, compared to $372.322 million in October 2022. On a YoY basis, petroleum crude imports witnessed a growth of 25.20 percent when compared to $436.097 million in November 2021.
Natural gas (liquefied) imports witnessed a negative growth of 17.38 percent during the first five months of the current fiscal year and stood at $1.584 billion compared to $1.918 billion during the same period of the last fiscal year.
Agricultural and other chemicals group imports witnessed 28.49 percent negative growth during the first five months of the current fiscal year and stood at $4.370 billion compared to $6.112 billion during the same period of the last fiscal year.
Machinery group imports witnessed 42.35 percent negative growth during the first five months of the current fiscal year and stood at $2.760 billion compared to $34.788 billion during the same period of the last fiscal year. Power generation machinery registered 71 percent negative growth during the first five months of the current fiscal year and stood at $247.181 million compared to $852.27 million during the same period of the last fiscal year.
Transport group imports witnessed 46.77 percent negative growth during the first five months of the current fiscal year and stood at $1.022 billion compared to $1.92 billion during the same period of the last fiscal year.
Food group imports witnessed 1.63 percent growth during the first five months of the current fiscal year and stood at $4.08 billion compared to $4.015 billion during the same period of the last fiscal year.
The country’s imports during July–November 2022 stood at $26.221 billion (provisional) as against $32.983 billion during the corresponding period of last year showing a decrease of 20.50 percent.
Imports in November 2022 were $5,182 million (provisional) as compared to $4,711 million in October 2022 showing an increase of 10 percent but decreased by 34.40 percent as compared to $7,899 million in November 2021.
Pakistan’s trade deficit narrowed by 30.77 percent during the first five months (July-November) of the current fiscal year and stood at $14.276 billion compared to $20.621 billion during the same period of the last fiscal year.