Pakistan Petroleum Imports Witnessed An Increase of 96.09 Percent Growth

Oil and gas group imports increased by 96.09 per cent, reaching $14.812 billion throughout July-March 2021-22, the maximum level ever.

According to the Pakistan Bureau of Statistics, Pakistan’s oil and gas group shipments totalled $7.553 billion during a relatively similar period last fiscal year (PBS).

The PBS information on trade balance revealed that petroleum items imports increased by 48.83 % in March 2022 and stayed at $1.864 billion, especially in comparison to $1.252 billion in February 2022, and increased by 68.19 % year on year in March 2022, compared to $1.108 billion in the same month last year.

According to the Pakistan Bureau of Statistics, the country’s shipments throughout July-March 2021-22 totalled $58.877 billion (temporary) compared to $39.489 billion throughout the same timeframe last year, representing a 49.10% growth (PBS).

Shipments in March 2022 have been $6.425 billion (temporary), particularly in comparison to $5.853 billion in February 2022, a 9.77 %, and a 14.10 per cent growth compared to $5.631 billion in March 2021.

Throughout the first 9 months (July-March) of the existing financial year, the country’s textile group sector grew by 25.43% to $14.242 billion, the maximum ever figure during the review period. During the same timeframe last fiscal year, the textile group’s export markets totalled $11.355 billion.

Textile group exports dropped 3.51 % month on month, remaining  $1.625 billion in March 2022, especially in comparison to $1.684 billion in Feb 2022.

Total exports in March 2022 were $2.782 billion compared with $2.834 billion in February 2022, a 1.83 % decline, but just a 17.68% growth, especially in comparison to $2.364 billion in March 2021.

The textile group sector grew 19.9 % year on year in March 2022, from $1.355 billion in March 2021 to $1.355 billion in March 2022.

Cotton yarn exports increased by 25.97 % from July to March 2021-22, remaining at $908.487 million as a close resemblance to $ 721.216 million in the same period last year, and reduced by 19.33 % in March 2022, remaining at $92.385 million comparisons with $114.524 million over the same month last year.

Building and drilling industrial equipment imports increased by 32.40 % throughout July-March 2021-22, remaining at $138.501 million as compared with $104.605 million throughout the same period in the previous year.

The exchange rate from July-March 2021-to 22 was $23.255 billion (provisional) compared to $18.687 billion throughout the same timeframe last year, representing a 24.98 % growth.

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