Pakistan’s Petroleum import bill rises 21% YoY in February 2025

March 18, 2025 (MLN): The import bill of the petroleum group fell to $1.45 billion in February 2025, marking an increase of 21% YoY compared to the import bill of $1.2bn recorded in February 2024, data released by the State Bank of Pakistan (SBP) showed.

Conversely, the imports of petroleum products fell by 1.8% MoM compared to the bill of $1.57 bn in January 2025.

It is pertinent to mention that the overall import bill has increased by 15.05% YoY to $5bn in February

While on a monthly basis, imports fell by 7.7% MoM compared to the imports worth $5.44 bn recorded in January 2025.

Cumulatively in 8MFY25, total imports marked an uptick of 11.4% YoY to $38.3bn compared to imports of $34.4bn in 8MFY24.

The share of petroleum products in the total import bill stood at 28.86% in February 2025.

In 8MFY25, the import bill of petroleum products went significantly up by 3.2% YoY to $10.3 bn against $9.98 bn recorded in the same period last year.

With regards to the food group, the import bill posted a decline of 2.8% YoY and a decrease of 2.2% MoM to $731.7m in February 2025, against $752.5m in SPLY and $747.8m in January 2025.

This decline is attributed to a fall in imports of Palm oil that stood at $297.5m compared to $220.8m in SPLY and $367.6m in January 2025, depicting a fall of 19% MoM and an increase of 34.8% YoY.

Cumulatively in 8MFY25, imports from the Food group inched down by 0.5% YoY to $4.9bn compared to imports of $4.93bn in 8MFY24.

Going forward, the import of agricultural and other chemicals inched down by 11.9% MoM and up by 4.3% YoY to clock in at $686.4m.

Meanwhile, during 8MFY25, the imports for the same group showed an increase of 1.5% YoY to clock in at $6.12bn.

The country’s machinery imports went up by 5.2% YoY to $671.17m in February 2025 as compared to $637.98m in February 2024.

Conversely, on a monthly basis, the machinery group’s import down by 8% MoM compared to the import worth $729.6m in January.

Under the group, the imports of Electrical Machinery & Apparatus witnessed a decline of 3.6% YoY during the review period.

Likewise, the import of Telecom up by 4.6% YoY and 9.7% MoM to clock in at $176.4m in the review month.

The data released by the central bank further shows that the textile import witnessed an increase of 81% YoY to $543.4m in February against the imports of $300.2m in the SPLY.

Under the textile group, the major portion of import was associated with raw cotton as it stood at $239.47m, observing an increase of 177.1% YoY and 24% MoM.

The import bill associated with the metal group clocked at $469.4m, witnessing a rise of 13.3% YoY and 4% MoM, due to a jump in the import of iron and steel reported at $224.4m in February.

Under the Transport Group, the country incurred import expenditure worth $179m during the review period, up by 11.7% MoM and 37.9% increase YoY.

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