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Petroleum industry

Decline in Pakistan's Import Bill of Petroleum Crude Supports Reduction in Trade Gap

Strategic Insights

— 1 min read

The reduction in the import of petroleum crude has resulted in a decline of 13.03% in Pakistan's import bill, reaching US$293.551 million in October 2006, as compared to US$337.549 million over the same month last year. According to the Federal Bureau of Statistics (FBS), this decrease is expected to contribute to a reduction in the trade gap. Concurrently, the import of petroleum products increased by 36.64% to US$556.374 million, while the total import bill decreased by 8.33% to US$2.131 billion. In other sectors, mobile phone imports declined by 6.37%, while telecommunications apparatus imports increased by 37.40%. The machinery group, the second-largest import component, saw an increase of 3.88% due to the import of electrical machinery.

Key Takeaways:

  • The import bill of petroleum crude declined by 13.03% to US$293.551 million in October 2006.
  • The import of petroleum products increased by 36.64% to US$556.374 million during the same month.
  • The total import bill decreased by 8.33% to US$2.131 billion in October 2006.
  • Mobile phone imports declined by 6.37% to $62.529 million in October 2006.
  • The machinery group, led by electrical machinery, increased by 3.88% in October 2006.
  • Food items import declined by 11.01% to $239.356 million during October 2006.
  • Import of milk products, wheat, dry fruits, and sugar declined by 2.65%, 13.8%, 42.32%, and 48.6%, respectively.

Statistics:

  • Import bill of petroleum crude decreased by 13.03% to US$293.551 million in October 2006.
  • Import of petroleum products increased by 36.64% to US$556.374 million in October 2006.
  • Total import bill declined by 8.33% to US$2.131 billion in October 2006.
  • Mobile phone imports decreased by 6.37% in October 2006.
  • Machinery group increased by 3.88% in October 2006 due to electrical machinery imports.
  • Food items import declined by 11.01% in October 2006.

Sources:

  • Asia Pulse, "Pakistan Import Bill of Petroleum Crude Declines," November 28.
  • Federal Bureau of Statistics (FBS), Pakistan.

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