The petroleum products that is imported during the month of March 2018, of current financial year incline by 4.58 percent on month on month basis and 22.69 percent as compared to the corresponding period of fiscal year.
Petroleum group occupies largest composition in the imports of Pakistan, it holds about 25 percent of the composition in the imports of Pakistan. It is the highest in three years.
Import of petroleum products amounted 1.227 billion dollar in the month of March 2018 whereas it was 1.173 billion dollar in the month of February 2018.
From group of petroleum, products that are imported to Pakistan are petroleum products, crude, LNG and LPG.
The data revealed that the biggest composition in the import of Petroleum group is occupied by petroleum products which is about 43.59 percent that worth USD 534.952 million for the month of March 2018. It declined by 7.41 percent on month on month basis where as it declined by 4.72 percent in the corresponding month of current fiscal year.
The other major composition in the petroleum product is occupied by petroleum crude which is about 34.76 percent which sums up to USD 426.604 million, whereas it was USD 306.451 million for the month of February 2018. Highest imports of crude petroleum is recorded in this month in this year. It increased by 39.21 percent on month on month basis and even inclined by 47.65 percent in the corresponding month of the current fiscal year.
Liquified Petroleum Gas (LPG) is imported only 0.07 percent of the imports of petroleum group that amounts to USD 8.626 million whereas it was USD 12.147 million respectively. It’s decreased by 28.99 percent but its imports are increased by 14.31 percent in the current fiscal year.
According to the data of Pakistan Bureau of Statistics, LNG’s imports are weakened by 7.23 percent on month on month basis but they increased by 80 percent in the corresponding period of the fiscal year. LNG’s imports amounted to USD 257.071 million for the month of March 2018, comparatively it was USD 277.120 million for the month of February 2018.