ISLAMABAD: Pakistan’s oil import bill decreased 1.19 per cent to $11.94 billion in the first nine months of the current fiscal year against $12.08 billion over the corresponding months of last year.
The imports gradually declined over the past few months before posting a negative growth, according to data compiled by the Pakistan Bureau of Statistics.
In stark contrast, the import of machinery grew 13.60pc to $6.65bn during the July-March FY25 against $5.85bn in the corresponding months a year ago. The growth was recorded in the import of all machinery except mobile phones.
According to the PBS data, crude oil imports increased in the first nine months of FY25, which prompted local refineries to produce more petroleum products than anticipated and boost exports.
Preliminary estimates suggest that the increase in local production of petroleum products in the past few months and its exports from the country is likely to boost economic growth in the current fiscal year.
Product-wise data showed crude oil imports up 0.36pc during the July-March period this year from a year ago. However, a 14.61pc increase was recorded in the total quantity of petroleum crude to 7.43m tonnes from 6.47m tonnes last year.
The value of petroleum products imports dipped 3.36pc during the first nine months of the current fiscal year from a year ago. In contrast, a 9.61pc increase was recorded in the total quantity imported, bringing the total up to 7.86m tonnes from 7.17m tonnes.
Published in Dawn, April 18th, 2025
