Pakistan’s bill for oil and food imports experienced a concerning growth in terms of month-on-month growth during August, as the import stats of August are revealed by the Pakistan Bureau of Statistics, forming close to half of the country’s total imports of $6.071 billion.
Oil imports increased this year by over 29.9% to $1.866 billion in August from $1.436 billion in July. The import of petroleum products further went up by 28% in value and increased by 50% in quantity. Crude oil imports rose by 10% in value while inching up 7% in quantity during August on a monthly basis.
Moreover, the import of Liquefied Natural Gas (LNG) whose use is becoming more common as the national SUI Gas is not sufficient for covering the national demand, was imported worth $399 million which means an increase of 73%. Imports of liquefied petroleum gas jumped by 36% to $63 million in August, in comparison to $46 million in July.
On the other hand, food group imports rose by over 33.7% to $1,020 million in August from $763 million in July, amid rising demand for edibles. Within the food group, the import of wheat stood at $203.62 million in August, reflecting a monthly increase of 90% in value and 94% in quantity. Moreover, other major import products of food items were palm oil and pulses.
The PBS data showed that the textile and clothing exports grew by 6.4% MoM, reaching $1,575 million in August. Data showed that exports of ready-made garments reached $330 million in August as compared to...
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