Islamabad June 19 2022: Pakistan’s LNG imports surge 86.9% to $4.28 billion during the period July to May 2022, according to data published by Pakistan Bureau of Statistics.
Whereas, total petroleum import bill surged by 99.14 per cent to $19.67 billion in the July-May period compared to $9.88 billion in the corresponding period last year owing to higher international prices.
The country’s overall import bill increased by 44.51 percent to $72.29 billion in 11MFY22 against $50.02 billion in the corresponding period last year.
The share of the petroleum group in total import bill also rose to 27.22 percent in 11MFY22. The steady increase in import bill of petroleum products is triggering trade deficit and pose a threat of exerting pressures on the external side of the government.
Data released by the Pakistan Bureau of Statistics showed that the import bill of petroleum products increased by over 126.17 percent to $10.02 billion in 11MFY22 from $4.31 billion over the corresponding period of last year.
Further breakup showed that the import of petroleum crude went up by 74.7 percent in value and 2.0 percent in quantity.
Crude oil imports rose to $4.75 billion during the period under review while those of liquefied natural gas increased by 86.29 percent in value to $4.28 billion. Liquefied petroleum gas imports jumped by 43.50 percent in value to $606 million in 11MFY22.