Islamabad: According to the Pakistan Bureau of Statistics (PBS), total imports of crude oil group decreased by 1.53 percent in the first ten months of this fiscal year (2023-24).
According to PBS data, the total import of the oil group in July-April (2023-24) was $13,761,071 million, compared to $13,974,609 million in the same period last year.
Among petroleum products, the import of petroleum products decreased by 14.09 percent from $6,149,116 million last year to $5,283,001 million during the period under review.
However, oil imports increased by 10.40 percent from $4,137,725 million to $4,567,954; Liquefied natural gas decreased 4.56 percent from $3,110,837 to $3,252,812, while imports of liquefied petroleum gas increased 13.96 percent to $657,132 million compared to $576,619 last year.
Imports of other products from the petroleum group decreased by 45 percent and dropped from 0.312 million dollars to 0.172 million dollars.
Meanwhile, oil group imports increased by 88.09 percent in April 2024 compared to last year.
Oil imports in April 2024 were recorded at $1,676,755 million against imports of $891,468 million in April 2023.
The country’s oil imports in April 2024 increased by 11.34 percent in April 2024 compared to imports of $1,506,004 million in March 2024, the data said.
It is pertinent to mention here that the total trade deficit in the first 10 months of this fiscal year was recorded at 19.514 billion dollars against a deficit of 23.535 billion dollars, showing a decrease of 17.09 percent last year.
According to PBS data, total exports from the country increased by 9.10 percent in the first ten months of this fiscal year (2023-24) compared to the corresponding period last year. During July-April (2023-24) it was $25.280 billion against exports of $23.171 billion.
On the other hand, the country’s import decreased by 4.09 percent to $44.794 billion compared to last year’s import of $46.706 billion.
