Pakistan’s petroleum imports are down 8% in the first eight months of 2023

The first eight months (July to February) of the current fiscal year 2022–23 (FY23) saw a negative rise of 8.28 percent for Pakistan’s petroleum imports, which were $11.876 billion compared to $12.948 billion during the same period last fiscal year (PBS).

According to data on exports and imports released by the PBS, petroleum group imports decreased by 4.62 percent month over month (MoM) in February 2023 and stayed at $1.264 billion compared to $1.326 billion in January. They also experienced a 1% YoY growth compared to $1.252 billion in February 2022.

The first eight months of the current fiscal year saw a 14.47 percent decline in petroleum product sales, which came to $5.352 billion from $6.257 billion in the corresponding period of the previous fiscal year.

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