Islamabad December 16 2022: Pakistan’s petroleum import bill rebound from low of 17 months during the month of November 2022 when compared to previous month to meet higher winter demand.
Data released by the Pakistan Bureau of Statistics on Friday showed that the import of petroleum products increased by 39 percent in value and 40 percent in quantity when compared with the previous month.
Crude oil imports jumped by 47 percent in value and 48 percent in quantity to USD 546 million and 781 thousand tons respectively, in November 2022. Moreover, finished products imports increased by 56 percent in value to USD 708 million and 57 percent in quantity to 951 thousand tons.
Imports of liquefied natural gas increased by 7 percent in value to USD 318 million from USD 297 million a month ago. Liquefied petroleum gas imports increased by 16 percent to USD 74 million during the month of November 2022.
The total import bill increased by 10 percent to USD 5.1 billion in November 2022 as against USD 4.7 billion in the month of October 2022.
Moreover, petroleum imports decreased by 24.6 percent in November 2022 when compared with November 2021 due to higher fuel prices and slowdown in economy.
Pakistan overall Large Scale Manufacturing Sector has decline by 7.75 percent during the month of October 2022, according to data published by Pakistan Bureau of Statistics on Thursday.
During the period from July to November 2022, petroleum imports decreased by 8.1 percent to USD 7.7 billion from USD 8.4 billion in the corresponding period last year. Imports of petroleum products declined by 14.5 percent to USD 3.5 billion while imports of crude oil increased by 10.6 percent to USD 2.3 billion during the period from July to November 2022. LNG imports during the same period declined by 17.4 percent to USD 1.6 billion.