Petroleum import bill rises to $1.56bn in Dec

January 21, 2025 (MLN): The import bill of the petroleum group increased by 0.85% to $1.56 billion in December 2024, compared to the import bill of $1.55bn recorded in December 2023, data released by the Pakistan Bureau of Statistics (PBS) showed.

Conversely, the imports of petroleum products fell by 7.67% compared to the bill of $632.67 million in November 2024.

The share of petroleum products in the total import bill stood at 10.82% during the month.

In 6MFY25, the import bill of petroleum products went down by 7% to $2.97bn against $3.19bn recorded in the same period last year. 

It is pertinent to mention that the overall import bill has increased by 16.38% YoY to $5.40bn in December.

While on a monthly basis, total imports have increased by 19.87% compared to the imports worth $4.50bn recorded in November 2024.

Cumulatively in 6MFY25, total imports jumped 6.52% to $27.84bn compared to imports of $26.14bn in 6MFY24.

The second and third-highest imports were by the Machinery and Food Group, worth $857.95mn and $802.94mn, respectively in the review month.

The country’s food imports went up by 32.25% to $802.94mn in December as compared to $607.15mn in the same period last year.

Similarly, on a monthly basis, the food group’s import increased by 23.03% compared to the import worth $652.64mn in November.

Under the group, Palm Oil emerged as the dominant food import and stood at $280.63mn, up by 31.81% YoY.

Likewise, the import of Pulses rose by 132.67% YoY to clock in at $123.12mn in the review month.

On a sequential basis, imports of Palm Oil up by 19.12% while the imports of Pulses grew by 13.34%, respectively.

The import of agricultural and other chemicals increased by 11.10% YoY and 24.20% MoM to clock in at $787.37mn.

Meanwhile, during 6MFY25, the imports for the same group showed a rise of 5.83% to clock in at $4.49bn.

The import bill associated with the metal group clocked at $354.28mn, increased by 4.75% YoY and 0.42% MoM in December.

Under the Textile Group, the country incurred an import expenditure worth $431.13mn during the review period, up by 112.62% YoY and 21.88% MoM.

With regards to the transport sector, the import bill posted a increase of 5.18% to $190.93mn in December 2024, against $181.53mn in December 2023.

This increase is attributed to a growth in imports of road motor vehicles that stood at $183.42mn compared to $171.6mn in December 2023, depicting a rise of 6.89%.

Comparison on a sequential basis reflects a increase of 39.42% compared to transport imports of $136.95mn in the previous month.

Cumulatively in 6MFY25, imports from the transport sector went up by 15.81% to $973.27mn compared to imports of $840.4mn in 6MFY24.

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