August 27, 2021 (MLN): The import bill of petroleum products during the month of July’21 stood at $1.33billion, surged by 77% YoY whereas on MoM basis, the import of the same group decreased by almost 10%, compared to the same period last year.
The group contributed 24% to the total imports during the first month of FY22.
As per the data released by Pakistan Bureau of Statistics (PBS), petroleum products remained the major contributor to soaring import bill by 67%YoY while on MoM it showed a decline of 11.14% in July’21 to clock in Rs647.5million.
In addition, the import bill of petroleum crude stood at Rs376.42mn in July’21, showing an upsurge of 85% YoY, while on MoM basis, the same commodity witnessed a meagre decline of 2% in import bill.
Likewise, the import of Natural Liquefied Gas stood at $271.67mn, depicting a twofold increase on yearly basis. On the other hand, the import bill of the same commodity shrank by 13.56% MoM, corresponding to the same period last year.
During the month, the export of Petroleum group & coal jumped by 3.5x YoY to stand at $29.40mn, whereas on monthly basis, the export has slashed by 10.7% MoM.
Commodity-wise, the main exportable product was petroleum crude which stood at $28.3mn, depicting a rise of 100% YoY, while on MoM basis, the export value of the same commodity jumped by 24%.
