3d illustration of barrels with oil

The import bill of the petroleum group for the month of April 2022 ballooned by 96 percent YoY to stand at $1.8 billion while on monthly basis, the import bill moved up by 9 percent MoM, compared to $918.27 million in April 2021 and $1.65bn in March 2022, respectively, data issued by the State Bank of Pakistan showed.

Cumulatively, the import bill of petroleum clocked in at $14.47bn in 10MFY22, witnessing a massive surge of 9.65% compared to $7.59bn in 10MFY21.

Within the group, import of petroleum products dropped by 22.36% MoM to stand at $747.24mn in April 2022, whereas on yearly basis, it has jumped by more than 2x YoY compared to the same period last year.

Meanwhile, petroleum crude and natural liquefied gas as their imports increased notably by 50.47% MoM and 58.80% MoM respectively to clock in at $620mn and $430mn, respectively.

Meanwhile, the import of machinery also witnessed a decline of 5% MoM and an increase of 23.5% YoY to $885.28mn during the month under review against the imports of $934.4mn in the previous month and $717.67mn in January 2021.

Under the Machinery group, the major portion of import was associated with telecom machines as it stood at $844.7mn, observing a decline of 1.15% MoM while on yearly basis, the same import of the same group by 12.64% YoY.

Within the telecom, the imports of mobile phones moved down by 8.15% MoM to $181.36mn in while on yearly basis, the import of mobile phones depicted an increase of 6.7% YoY, compared to Rs140.8mn in April 2021.

Similarly, the import bill of the agriculture and chemical group which comprises manufactured fertilizer, insecticides, plastic material, medicinal products, and other agricultural and chemical products, witnessed a decline of 1.39% MoM to clock in at $962mn in April 2022, compared to $975.74mn in March 2022. However, on yearly basis, the import bill of the same group saw an increase of 17.38% YoY against $819.7mn in April 2021.

In addition, the food group including, palm oil, tea, pulses, sugar, and wheat also dropped to $541mn in April 2022, down by 25.78% MoM, compared to Rs729mn in March 2022. On the other hand, the import bill of the same group inched up by 10.85% YoY against the bill of $607mn in April 2021.

Under the same group, the imports of wheat witnessed a decline of 99.9% MoM and 99.12% YoY to stand at $0.42mn during the review period. In addition, the import of sugar soared by 55% MoM and 23.35% YoY to clock in at $571mn in April 2022.

The imports of other products such as textile and metals decreased by 8.96% MoM, and 4.27% MoM respectively. Similarly, the transport group’s imports shrank by 11.31% MoM during in April 2022.

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