Petroleum group imports witnessed an increase of 107.35 percent as they reached $11.696 billion in July-January 2021-22 compared to $5.640 billion in the same period of the last fiscal year, according to the Pakistan Bureau of Statistics (PBS).
The exports and imports data released by the PBS revealed that the country’s imports in July-January 2021-22 stood at $46.616 billion (provisional) compared to $29.257 billion in the corresponding period of last year, showing an increase of 59.33 percent. The imports in January 2022 stood at $6.053 billion (provisional) compared to $7.580 billion in December 2021, showing a decrease of 20.15 percent but increased by 26.03 percent as compared to $4.803 billion in January 2021.
Petroleum group imports registered a 15.96 percent negative growth in January 2022 and remained $1.514 billion compared to $1.801 billion in December 2021, however, registered a 74.19 percent growth on a year-on-year basis in January 2022 compared to $869.288 million in the same month of last year.
Construction and mining machinery imports witnessed a growth of 67.24 percent in July-January 2021-22 and stood at $108.070 million compared to $64.62 million in July-January 2020-21.
The construction and mining machinery registered 20.91 percent growth on a year-on-year basis and stood at $12.486 million in January 2022 compared to $10.327 million in January 2021, however, it registered a 53.80 percent decline on a month-on-month basis compared to $27.026 million in December 2021.
The country’s overall exports in January 2022 stood at $2.618 billion (provisional) compared to $2.764 billion in December 2021 showing a decrease of 5.28 percent but increased by 22.05 percent compared to $2.145 billion in January 2021.
The country’s textile group exports witnessed 24.73 percent growth in the first seven months (July-January) of the current fiscal year and stood at $10.933 billion compared to $8.765 billion in the same period of the last fiscal year.
On a year-on-year basis, textile group exports witnessed 17.29 percent growth in January 2022, compared to $1.323 billion in January 2021.
The country’s exports in July-January, 2021-22 stood at $17.744 billion (provisional) against $14.255 billion in the corresponding period of last year, showing an increase of 24.48 percent.
The country’s trade deficit widened by 92.45 percent from $15.002 billion in July-January 2020-21 to $28.872 billion in July-January 2021-22, and widened by 29.23 percent in January 2022, and remained $3.435 billion compared to $2.658 billion in January 2021.
Main commodities of exports in January 2022 were knitwear (Rs. 68,297 million), readymade garments (Rs. 58,390 million), bed wear (Rs. 46,617 million), cotton cloth (Rs. 38,239 million), rice others (Rs. 28,561 million), towels (Rs. 16,056 million), cotton yarn (Rs. 13,652 million), fruits (Rs. 12,900 million), madeup articles (excl. towels & bedwear) (Rs. 12,135 million) and rice basmati (Rs. 10,241 million).
Main commodities of imports in January 2022 were petroleum products (Rs. 119,483 million), petroleum crude (Rs. 67,929 million), natural gas liquified (Rs. 65,425 million), medicinal products (Rs. 52,696 million), palm oil (Rs. 50,506 million), plastic materials (Rs. 37,790 million), iron & steel scrap (Rs. 37,255 million), iron & steel (Rs. 35,327 million), mobile phones (Rs. 31,695 million) and wheat un-milled (Rs. 27,685 million).
Source: Pro Pakistani