Petroleum imports dip 16.55% to $3.157 bln

ISLAMABAD, Oct 22 (APP):The petroleum group imports into the country dipped by 16.55 percent during the first quarter of current fiscal year against the same period of last year.

The petroleum imports into the country during July-September (2019-20) were recorded at $3157.492 million against the imports of $3783.553 million, showing negative growth of 16.55 percent, according to the latest data of Pakistan Bureau of Statistics (PBS).

During the period under review, the crude oil imports decreased from $1202.154 million last year to $811.087 million this year, showing decline of 32.53 percent. The petroleum products imports also decreased by 17.25 percent from $1595.098 million to $1319.891 million, the data revealed.

Meanwhile, the petroleum group that witnessed positive growth in trade included natural gas (liquefied), imports of which however witnessed increase of 2.81 percent from $939.194 million to $965.585 million.

The import of petroleum gas (liquefied) also increased by 29.44 percent, from $47.042 million last year to $60.891 million during the period under review.

On year-on year basis, the imports of petroleum group increased by 0.76 percent during September 2019 compared to the imports of the same month of the last year.

The petroleum group imports during September 2019 were recorded at $1149.695 million against the imports of $1141.034 million in September 2018.

On month-on-month basis, the imports of petroleum group increased by 12.99 percent during September 2019, when compared to the imports of $1017.560 million during August 2019, the data revealed.

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