ISLAMABAD: Imports of overall petroleum group contracted by 11.66 percent during first nine months of current fiscal year (2022-23) as compared to corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.

Total imports of petroleum group during July-March (2022-23) stood at $ 13,083.145 million, as against imports of $ 14,810.060 million during same period of last year, according to PBS data.

Among petroleum commodities, import of petroleum products declined by 19.91 percent, from $ 7,287.499 million last year to $ 5,836.530 million during time period under review. Likewise, imports of liquefied natural gas declined by 14.11 percent and dropped from $ 3,320.707 million last year to $ 2,852.191 million this year. On other hand, products that witnessed positive growth included petroleum crude, imports of which grew by 4.69 percent, from $ 3,687.672 million last year to $ 3,860.732 million whereas imports of liquefied petroleum gas increased by 3.78 percent, from $ 513.964 million to $ 533.415 million. Imports of all other petroleum products increased by 27.19 percent from $ 0.217 million to $ 0.276 million. Meanwhile, on year-on-year basis, petroleum group imports witnessed decrease of 35.19 percent during month of March 2023 as compared to same months of last year.

Petroleum imports during March 2023 were recorded as $ 1,206.434 million against imports of $ 1,861.556 million during March 2022. On a -on-month basis, petroleum imports into country also declined by 4.63 percent during March 2023, as compared to imports of $ 1,264.981 million in February 2023, said data.

Published in The Daily National Courier, April, 20 2023

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