ISLAMABAD: Pakistan’s petroleum group imports increased by 1.68% during the first four months of the current fiscal year, compared to the same period last year, as reported by the Pakistan Bureau of Statistics (PBS).
The data revealed that the petroleum imports during July-October 2024-25 amounted to $5.11 billion, slightly up from $5.03 billion recorded during July-October 2023-24.
The overall performance of petroleum imports varied across different categories. Imports of petroleum products, such as refined fuels, declined by 18.89%, falling from $2.16 billion in the same period last year to $1.75 billion this year.
However, the import of petroleum crude showed a significant increase of 16.80%, rising from $1.49 billion to $1.74 billion. Similarly, liquefied natural gas (LNG) imports grew by 10.97%, reaching $1.31 billion compared to $1.18 billion last year. Meanwhile, liquefied petroleum gas (LPG) imports experienced a sharp rise of 56.03%, increasing from $203.46 million to $317.47 million.
Other petroleum products recorded a dramatic rise of 257.50%, but the increase came from a small base, moving from $0.004 million to $0.0143 million.
The petroleum group imports, however, faced a significant downturn on a year-on-year basis. In October 2024, petroleum imports decreased by 30.55% to $1.06 billion, compared to $1.53 billion in October 2023. On a month-on-month basis, the imports also fell by 23.61% in October 2024, declining from $1.39 billion in September 2024.
Amid fluctuating petroleum import trends, Pakistan’s overall trade data painted a mixed picture. During the first four months of FY25, merchandising exports surged by 13.45%, climbing to $10.88 billion from $9.59 billion in the corresponding period last year. Simultaneously, overall imports into the country rose by 5.17%, increasing from $16.98 billion to $17.85 billion.
These trade dynamics resulted in a narrower trade deficit during the review period, which decreased by 5.59%. The trade deficit for July-October 2024-25 stood at $6.97 billion, compared to $7.39 billion during the same period last year.
The PBS data underscores the nuanced shifts in Pakistan’s trade and energy imports, highlighting areas of both improvement and concern for the country’s economic outlook.
