Petroleum imports shrink by 21.8% YoY during Jul-Nov FY20

December 18, 2019 (MLN): The overall imports of Petroleum Group witnessed 21.8% decline during Jul-Nov 2019 as compared to the corresponding period of the last year.

During the period, the total imports of Petroleum group stood at $5.1 billion against imports of $6.5 billion during Jul-Nov 2018, according to the latest data issued by Pakistan Bureau of Statistics (PBS).

The products that contributed in declining Petroleum import bill include, Petroleum Products, Petroleum Crude and Natural Liquefied Gas as their imports during the month declined considerably by 25.6%, 28% and 8.4% YoY respectively.

Similarly, during the month of November alone, the import payments for Petroleum group deteriorated by 31.48% YoY and 7.9% MoM.

Correspondingly, exports of Petroleum group during 5 months of the current fiscal year declined by 35.5% YoY to $139.7 million from $216.7 million recorded in Jul-Nov 2018.

Within the Petroleum Group, the exports of Petroleum Crude down by 11.7%, Petroleum Products (excluding Top Naphta) weakened by 69% and Petroleum Top Naphta shrank by 34% YoY.

In the month of November alone, exports of Petroleum Products increased notably by 40.78% YoY and 12.84% MoM.

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