Oil imports hit record high at $19.67bn in 11MFY22

June 17, 2022 (MLN): The import invoice of oil was recorded at $2.65 billion in Could 2022, 2.23x better than May perhaps 2021, touching a historic superior of $19.67bn, up by all around 99% YoY in the course of the July-Might FY22 amid 65% YoY leap in Arab Gentle prices along with 31% YoY volumetric development, facts unveiled by the Pakistan Bureau of Figures (PBS) confirmed on Thursday.

On a sequential basis, the import of petroleum items improved by 19% compared to $2.22bn in April 2022. Meanwhile, the share of petroleum solutions in the whole import invoice of $6.77bn stood at 39% in May perhaps 2022.

With regards to the transportation sector, the import bill posted a progress of 55% YoY to $4bn for the duration of 11MFY22 in opposition to $2.62bn over final year, generally led by massive imports of street motor autos (create unit, CKD/SKD) worthy of $3.42bn. In the exact period of time final year, the country imported $2.18bn value of road motor autos.

In the thirty day period of May possibly on your own, the sector imported worthy of $341.77mn vehicles, observing an improve of 17.27% YoY whilst, on month-to-month basis, it confirmed a fall of 6.43% Mother in the import monthly bill.

The import of medicinal items went down by 43% YoY and 35% Mother in Could 2022 to clock in at $88.61mn. Nevertheless, throughout 11MFY22, the medicinal import monthly bill rose to a huge $3.95bn, up by 3.45x YoY from $1.14bn a calendar year in the past.

The country’s food items imports widened by 12% YoY to $7.55bn in 11MFY22 from $6.9bn about the corresponding interval last yr to bridge the hole in food stuff creation. In May perhaps 2022, the food import invoice inched up by 8% YoY and 3.43% Mom to clock in at $703.15mn.

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Posted on: 2022-06-17T15:28:12+05:00

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