Petroleum import bill drops 8% to $1.2bn in Oct

MG News | November 18, 2024 at 11:42 AM GMT+05:00

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November 18, 2024 (MLN): The import bill of the petroleum group decreased 7.8% to $1.22 billion in October 2024, compared to the import bill of $1.33bn recorded in October 2023, data released by the State Bank of Pakistan (SBP) showed.

Similarly, the imports of petroleum products fell by 6.0% compared to the bill of $1.3bn in September 2024.

The share of petroleum products in the total import bill stood at 26.6% in October 2024.

In 4MFY24, the import bill of petroleum products went up by 7.7% to $5.16bn against $4.79bn recorded in the same period last year.

It is pertinent to mention that the overall import bill has increased by 5.1% to $4.61bn in October compared to last year. While on a monthly basis, imports fell by 1.9%.

Cumulatively in 4MFY25, total imports marked a rise of 13.0% to $18.83bn compared to imports of $16.67bn in 4MFY24.

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