ISLAMABAD: Pakistan’s petroleum import bill surged to $1.22 billion in July 2024, marking a significant year-on-year increase of 39.97% from $874.76 million in July 2023, as reported by the State Bank of Pakistan (SBP).
However, there was a month-on-month decline of 16.08% compared to June 2024, when the bill was $1.46 billion.
Petroleum products represented 25.41% of the total import bill, which rose by 16.34% year-on-year to $4.82 billion. Every month, imports increased by 4.08% from $4.63 billion in June 2024.
The transport sector experienced a decrease in its import bill, down by 4.81% year-on-year to $147.78 million from $155.25 million in July 2023.
Following petroleum, the highest imports were in the Machinery Group and Agricultural and Other Chemicals, with values of $897.51 million and $801.54 million, respectively.
Imports of agricultural and other chemicals fell by 1.17% year-on-year but increased by 20.11% month-on-month to $801.54 million. Food imports decreased by 15.22% year-on-year to $535.52 million in July from $631 million.
Food imports decreased by 15.22% year-on-year to $535.52 million in July from %631.67 million last year, although they rose by 26.87% from $422.1 million in June 2024.
