ISLAMABAD: Pakistan’s petroleum imports grew by 1.68% in the first four months (July-October) of fiscal year 2024-25, reaching $5.113 billion, up from $5.029 billion during the same period last year, according to data released by the Pakistan Bureau of Statistics (PBS).
Overall, the country’s total imports during the period amounted to $17.972 billion (provisional), marking an increase of 5.86% from $16.977 billion in the corresponding months of the previous year. However, imports in October 2024 declined to $4.591 billion, reflecting a decrease of 1.40% compared to $4.656 billion in September 2024 and a 5.59% drop from $4.863 billion in October 2023.
On a year-on-year (YoY) basis, petroleum group imports saw a sharp decline of 30.55% in October 2024, totaling $1.060 billion, down from $1.527 billion in October 2023. On a month-on-month (MoM) basis, petroleum group imports also fell by 23.61% from $1.388 billion in September 2024.
Petroleum products imports, in particular, faced significant declines during the first four months of FY25, falling by 18.89% to $1.753 billion from $2.161 billion in the same period of the previous year. In October 2024, petroleum product imports dropped by 38.34% YoY, totaling $398.39 million, compared to $646.1 million in October 2023. MoM, petroleum product imports fell by 22.49% from $513.96 million in September 2024.
The major commodities imported in October 2024 included petroleum products (Rs. 110.62 billion), petroleum crude (Rs. 85.05 billion), natural gas liquefied (Rs. 77.45 billion), and palm oil (Rs. 76.73 billion). Other significant imports included plastic materials, iron and steel, electrical machinery, and mobile phones.
This mixed performance in petroleum imports reflects the country’s ongoing efforts to manage energy needs while navigating fluctuating global commodity prices and domestic demand trends
