Petroleum group import bill decreases by 8.87% YoY in April 2024

Import bill for petroleum products declined by 25% YoY to $12.34 billion in 10MFY24, from $16.5 billion in the same period last year

The import bill for the petroleum group declined to $1.26 billion in April 2024, showing an 8.87% decrease year-on-year compared to $1.38 billion in April 2023, according to data from the State Bank of Pakistan (SBP).

However, imports of petroleum products increased by 14.77% month-on-month from $1.1 billion in March 2024.

The share of petroleum products in the total import bill of the country was 28.36% in April 2024.

For the first 10 months (July-April) of the fiscal year 2023, the import bill for petroleum products dropped by 25.21% year-on-year to $12.34 billion, down from $16.5 billion in the same period last year.

Overall, the total import bill of the country rose by 22.77% year-on-year to $4.45 billion in April 2024. 

On a monthly basis, imports decreased by 2.74% from $4.57 billion in March 2024.

Cumulatively, in the first 10 months of fiscal year 2024, total imports decreased by 5.27% year-on-year to $43.35 billion, compared to $45.77 billion in the same period of fiscal year 2023.

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