Petroleum import bill declines by 1.24% to $1.4bn in Nov

News Image

MG News | December 18, 2024 at 01:09 PM GMT+05:00

0:00

December 18, 2024 (MLN): The import bill of the petroleum group decreased by 1.24% to $1.40 billion in November 2024, compared to the import bill of $1.42bn recorded in November 2023, data released by the Pakistan Bureau of Statistics (PBS) showed.

Conversely, the imports of petroleum products rose by 32.7% compared to the bill of $1.06bn in October 2024.

The share of petroleum products in the total import bill stood at 31.14% during the month.

In 5MFY25, the import bill of petroleum products went up by 1.04% to $6.52bn against $6.45bn recorded in the same period last year.

It is pertinent to mention that the overall import bill has decreased by 0.15% YoY to $4.51bn in November.

While on a monthly basis, total imports have declined by 1.08% compared to the imports worth $4.56bn recorded in October 2024.

Cumulatively in 5MFY25, total imports jumped 4.48% to $22.46bn compared to imports of $21.5bn in 5MFY24.

The second and third-highest imports were by the Food and Agri. & Other Chemical Group, worth $652.63 million and $633.96mn, respectively in the review month.

The country’s food imports went down by 8.96% to $652.63mn in November as compared to $716.83mn in the same period last year.

Similarly, on a monthly basis, the food group’s import decreased by 3.04% compared to the import worth $673.10mn in October.

Under the group, Palm Oil emerged as the dominant food import and stood at $235.59mn, up by 11.69% YoY.

Likewise, the import of Pulses rose by 32.84% YoY to clock in at $108.63mn in the review month.

On a sequential basis, imports of Palm Oil dropped by 14.74% while the imports of Pulses grew by 16.1%, respectively.

The import of agricultural and other chemicals decreased by 7.21% YoY and 21.9% MoM to clock in at $633.96mn.

Meanwhile, during 5MFY25, the imports for the same group showed a rise of 4.77% to clock in at $3.7bn.

The import bill associated with the metal group clocked at $352.8mn, decreased by 11.04% YoY and 12.3% MoM in November.

Under the Textile Group, the country incurred an import expenditure worth $354.91mn during the review period, up by 64.01% YoY and 2.28% MoM.

With regards to the transport sector, the import bill posted a decline of 8.6% to $140.08mn in November 2024, against $153.24mn in November 2023.

This increase is attributed to a growth in imports of road motor vehicles that stood at $125.81mn compared to $146.2mn in November 2023, depicting a decline of 13.94%.

Comparison on a sequential basis reflects a decline of 13.38% compared to transport imports of $161.72mn in the previous month.

Cumulatively in 5MFY25, imports from the transport sector went up by 19.21% to $785.47mn compared to imports of $658.87mn in 5MFY24.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 162,803.16
353.00M
0.72%
1171.42
ALLSHR 98,852.42
947.86M
0.61%
597.68
KSE30 49,497.35
204.97M
0.24%
120.05
KMI30 234,519.02
114.11M
0.78%
1818.74
KMIALLSHR 64,510.15
338.03M
0.52%
330.55
BKTi 45,699.73
99.84M
-1.37%
-634.44
OGTi 31,506.29
9.79M
0.46%
143.56
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 107,590.00 111,290.00
105,755.00
-2730.00
-2.47%
BRENT CRUDE 64.82 65.32
64.33
0.05
0.08%
RICHARDS BAY COAL MONTHLY 86.00 0.00
0.00
0.00
0.00%
ROTTERDAM COAL MONTHLY 96.80 98.00
95.70
0.10
0.10%
USD RBD PALM OLEIN 1,082.50 1,082.50
1,082.50
0.00
0.00%
CRUDE OIL - WTI 60.99 61.50
60.51
0.01
0.02%
SUGAR #11 WORLD 14.68 14.73
14.36
0.25
1.73%

Chart of the Day


Latest News

Top 5 things to watch in this week

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