Pakistan’s petroleum import bill swells to $1.56 billion

KARACHI: Pakistan’s petroleum import bill saw a slight increase of 0.85 per cent, reaching $1.56 billion in December 2024, compared to $1.55 billion in the same month of 2023, according to the Pakistan Bureau of Statistics (PBS).

However, petroleum product imports dropped by 7.67 per cent from $632.67 million in November 2024. Petroleum products made up 10.82 per cent of the total import bill for December.

For the first six months of FY25, the petroleum import bill fell by 7 per cent, totalling $2.97 billion, compared to $3.19 billion during the same period last year.

Meanwhile, the overall import bill increased by 16.38 per cent year-on-year to $5.40 billion in December 2024.

On a monthly basis, imports grew by 19.87 per cent from $4.50 billion in November. Total imports for 6MFY25 rose by 6.52 per cent, reaching $27.84 billion, compared to $26.14 billion in 6MFY24.

Machinery and food were the second and third-largest import groups in December, with imports valued at $857.95 million and $802.94 million, respectively.

Food imports surged by 32.25 per cent year-on-year, driven mainly by palm oil, which increased by 31.81 per cent to $280.63 million, and pulses, which saw a dramatic rise of 132.67 per cent to $123.12 million.

Agricultural and chemical imports rose by 11.10 per cent year-on-year to $787.37 million in December, and during 6MFY25, these imports climbed by 5.83 per cent to $4.49 billion. Metal imports also saw a modest increase of 4.75 per cent to $354.28 million.

Textile imports surged by 112.62 per cent year-on-year to $431.13 million, while the transport sector’s import bill grew by 5.18 per cent to $190.93 million in December 2024, compared to $181.53 million in December 2023.

This was largely due to increased road vehicle imports, which rose by 6.89 per cent. Transport sector imports for 6MFY25 increased by 15.81 per cent to $973.27 million.

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