Pakistan’s spending on the import of Petroleum Products drops by 27%, YoY

November 20, 2019: The import of Petroleum products during the month of October 2019 amounted to approximately $1.01 billion, as compared to $1.14 billion in the previous month and 1.39 billion in the same period of last year, showing a decline of 12.1% and 27.4% in the respective periods.

During the first four months of current Fiscal year, the imports of petroleum group stood at $4.16 billion, against $5.17 billion recorded in the same period of last year, depicting a decline of 19.49%

According to the details reported by Pakistan Bureau of Statistics, the products that contributed in deflated petroleum import bill included crude oil, the imports of which dropped by 30.29% as $1.1 billion were spent on its purchase in the first four months, as compared to $1.6 billion spent during the same period of the previous year.

The import of petroleum products also witnessed a sharp decrease of 23.4% to $1.7 billion during the period under review, against $2.2 billion recorded in the same period of last year.

On the other hand, the products that witnessed growth in imports during the period under review included petroleum gas, as its bill went up by 23.8%, increasing from $70.6 million in last year to $87.4 million this year.

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Posted on: 2019-11-20T12:06:00+05:00