During the fiscal year 2023-24 (FY24), imports of petroleum products experienced a slight decline of 0.61%, totaling $16.910 billion compared to $17.014 billion in FY23, according to the Pakistan Bureau of Statistics (PBS).
In June 2024, petroleum group imports amounted to $1.571 billion, showing a 0.42% decrease from $1.577 billion in May 2024. On a year-on-year (YoY) basis, this represents a 3.73% decrease compared to $1.632 billion in June 2023. Imports of petroleum products alone saw a significant drop of 12.91% during FY24, totaling $6.643 billion compared to $7.628 billion in the previous fiscal year. Month-on-month (MoM), imports of petroleum products in June 2024 were $684.496 million, up from $676.417 million in May 2024, marking a 1.19% increase.
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Overall, imports for the period July-June 2023-24 totaled $54,798 million (provisional), down 0.72% from $55,198 million in the previous year. In June 2024, imports were valued at $4,983 million (provisional), up 1.38% from $4,915 million in May 2024 and a 18.95% increase compared to $4,189 million in June 2023.
Key imports for June 2024 included Petroleum products (Rs. 190,590 million), Petroleum crude (Rs. 128,995 million), Liquefied natural gas (Rs. 102,615 million), Electric machinery & apparatus (Rs. 87,700 million), Mobile phones (Rs. 77,566 million), Palm oil (Rs. 68,781 million), Plastic materials (Rs. 52,924 million), Iron & steel (Rs. 48,702 million), Motor cars (CKD/SKD) (Rs. 28,898 million), and Iron and steel scrap (Rs. 27,398 million).
