Islamabad January 19 2023: As per the latest data released by the Pakistan Bureau of Statistics (PBS), Pakistan Petroleum imports witnessed a decrease of 9 percent during the first six months of the financial year 2023.
The decline in Petroleum imports is witnessed due to 37 percent YoY decline in crude oil and 13 percent decline in Petroleum volumetric imports.
During December 2022, Petroleum imports decreased by 12 percent YoY to USD 1,585 million, while it is down by 4 percent compared to November 2022.
The decline in imports on MoM basis is declined due to a decline in prices. However, Crude oil and petroleum products volume increased by 4 percent and 1 percent, respectively.
During December 2022 volumetric imports of petroleum products decreased by 39 percent to 957 thousand tons.
Petroleum product imports during 1HFY23 decreased by 17 percent to 4,202 million. 37 percent lower volumetric imports were the reasons behind this decrease.
Crude oil imports during 1HFY23 increased by 15 percent to 2,776 million. Higher prices was the main reasons behind this increase, however volumes decreased by 13 percent 3,995 thousand tons.