Cost of Petroleum Imports falls by 15% in July: PBS

News Image

MG News | August 20, 2018 at 06:30 PM GMT+05:00

0:00

Cost of petroleum imports has fallen down by 15.33% in July as the country imported petroleum related commodities worth $1.27 billion during that month.

A month before that, during June 2018, the value of petroleum related commodities imported into the country, stood at $1.5 billion. However, compared to last year, import of petroleum related commodities are still very large, having increased by 34.29% over the year as imports during July 2017 were worth close to $947 million.

Pakistan imported petroleum products worth $556.17 million in July, a 16.71% decline over the $667.76 million worth of petroleum products imported in June.

The largest month-on-month fall in the import of petroleum related commodities was for crude petroleum, imports of which fell down by 24.26% over the month, data from the Pakistan Bureau of Statistics revealed. Pakistan imported crude oil worth $371.7 million in July 2018. Compared to July 2017, import of crude petroleum has however surged by 70% as the value of imports last year stood at $218.5 million.

Import of LNG on the other hand has demonstrated a marginal increase of 0.35% this month, being the only petroleum-related commodity that has not witnessed a decline in its value of imports.

However, it also the very commodity that has witnessed the largest growth in the cost of imports over the year, having grown by 143.79% over the value of LNG imports recorded in July 2017. LNG imports have been brought in at a cost of $332 million in July, while in the previous month (June) and the previous year (July 2017), imports were priced at $330.9 million and $136.2 million respectively.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 135,939.87
307.74M
-0.41%
-562.67
ALLSHR 84,600.38
877.08M
-0.56%
-479.52
KSE30 41,373.68
101.15M
-0.43%
-178.94
KMI30 191,069.98
82.45M
-1.17%
-2260.79
KMIALLSHR 55,738.07
422.01M
-1.03%
-577.24
BKTi 38,489.75
45.79M
-0.02%
-8.33
OGTi 27,788.15
6.87M
-1.24%
-350.24
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 116,630.00 120,695.00
116,090.00
-3605.00
-3.00%
BRENT CRUDE 68.79 69.41
68.60
-0.42
-0.61%
RICHARDS BAY COAL MONTHLY 96.50 96.50
96.50
0.50
0.52%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.25
-2.05
-1.92%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.65 67.13
66.22
-0.33
-0.49%
SUGAR #11 WORLD 16.56 16.61
16.25
0.26
1.60%

Chart of the Day


Latest News
July 15, 2025 at 05:46 PM GMT+05:00

Labubu Mania drives Pop Mart’s profit surge


July 15, 2025 at 05:22 PM GMT+05:00

Big industry output rises 2.29% in May


July 15, 2025 at 04:22 PM GMT+05:00

SYS set for 71% profit surge on global tailwinds



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg