Petroleum imports register decline

By Ajmal Khan Yousafzai

ISLAMABAD: The overall petroleum group imports during the first three quarters (Qs) of the current fiscal year decreased by 16.14 percent when compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.
The import bill during July-March (2019-20) was recorded at $8900.631 million against the imports of $10614.003 million during July-March |(2018-19), showing decline of 16.14 percent, according to latest PBS data.
Among the petroleum commodities that witnessed negative growth in trade included petroleum products, the imports of which decreased by 14.24 percent by declining from US $ 4622.978 million last year to $3964.662 million during the current year.
Likewise, the crude petroleum imports decreased from US $3379.041 million last year to US $ 2452.599 million during the current year, showing decline of 27.42 percent whereas the imports of natural gas (liquefied) decreased by 6.96 percent by going down from US $ 2404.624 million last year to US $ 2237.253 million this year.
However, the imports of petroleum gas (liquefied) during the period under review increased by 18.72 percent by growing from US $ 207.145 million to $245.915 million.
The imports of all other petroleum group products declined by 6.05 percent from US $0.215 million to US $0.202 million, the data revealed. Meanwhile, the petroleum imports into the country witnessed decrease of 39.29 percent during the month of March 2020 when compared to the imports of February 2020. The import bill of the country stood at $668.329 million in March as compared to US $1100.851 million in February 2020.
On year-on-year basis, the imports of petroleum group during the month under review declined by 32.86 percent when compared to the imports of $995.851 in March 2019.