As Pakistan’s economy is still recovering from the third wave of the Covid-19 pandemic, economic activity has started returning to normal. As a result, demand for the refined petrol and oil products continued to grow as it increased its imports increased by 97% year-on-year to $ 1.14 billion in the month of April-2021. While on monthly basis imports of the Petrol and other refined oil products increased by 3.2%.

As per the data published by the Pakistan Bureau of Statistics (PBS), oil products remained the main contributor to the 650% year year-on-year increase in import expenditures, while on monthly basis it increased by 42.45%. Similarly, LNG imports reached USD 294.73 million during April-2021, marking a 94.67% year on year rise, while on a monthly basis the same product increased by 27.19% compared to the previous month.

Likewise, LPG continued to be major contributor to imports as its import stood at $ 418.12 million.

Petroleum Group accounted for 19.43% of total imports in the first ten months of fiscal year 2021 (July’2020 to April’2021), which is $ 7.5 billion, compared to $ 8.7 billion in the corresponding fiscal period of 2020, marking an annualized decrease of 8.26% compared to the same period last year.

In terms of exports, between July’2020 and April’ 2021, the oil and coal group of companies decreased by 41.75% compared to the same period last year to USD 145.47 million, compared to USD 249.75 million in the same period of fiscal year 2020.

The following two tabs change content below.


Please enter your comment!
Please enter your name here