Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

Trending :

Petroleum imports surge by 24.6% MoM in July as domestic fuel consumption rises

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

August 18, 2020 (MLN): In the month of July 2020, export receipts from Petroleum group & coal have been recorded at $8.33 million, showing a significant decline of by 63.8% when compared to exports of June 2020. While on yearly basis, it witnessed an increase of 59%.

Meanwhile, imports of the same group surged by around 24.6% MoM as the lifting of lockdown has increased domestic fuel consumption. On YoY basis, it plunged by 24.9% YoY to value at $752.46 million in July 2020.

According to the latest data issued by the Pakistan Bureau of Statistics (PBS), the main exportable products during the month were Petroleum Products (Excluding Top Naphta) and Petroleum Crude.

The exports Petroleum Products showed a massive 12.39 times increase MoM and 34.18% rise YoY to $6.44 million, whereas, Petroleum Crude’s exports showed a notable decline of 91.6% MoM while on yearly basis, it increased 100% to $1.88 million.

Similarly, on the import front, the products that imported heavily include Petroleum Products, Petroleum Crude and Natural Liquefied Gas.

The imports of Petroleum products and Petroleum Crude jumped 31.6% and 50.5% MoM to $387.7 million and $203.3 million respectively. Whereas, the import of LNG witnessed a decline of 22.49% MoM to $128.32 million. On yearly basis, imports of these products diminished by 6.6%, 21.87% and 57.9% respectively.   

Copyright Mettis Link News

 

Posted on: 2020-08-18T11:49:00+05:00

36378