Petroleum occupies one-third of total imports

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ISLAMABAD: Petroleum imports occupied one-third of the country’s total imports from July 2012 to February 2013, which totalled $9.936 billion, said the Pakistan Bureau of Statistics (PBS) on Thursday. 2013   amounting to $9.8 billion. This was 1.44 percent less than the imports for the same period.


Pakistan’s total imports during the period under review have been clocked at $29.068 billion while total exports were recorded at $15.88 billion. Imports of petroleum products were found to decrease by 4.2 percent to $6.23 billion. In quantity too, imports declined by 6.32 percent to 8.07 million metric tonnes (mmt) over the corresponding period of the last fiscal year. Imports of crude petroleum went up by 3.77 percent to $3.56 billion and its quantum imports also increased by 10.2 percent to 4.58 mmt.


Machinery imports increased by 4.98 percent – from $3.7 billion last year to $3.89 billion. Of this, the telecom sector’s imports increased by 33 percent to $1.09 billion of which $459 dollars were been spent on mobile phones import. Construction and mining machinery imports up by 10.5 percent to $99.5 million and office machinery by 1.8 percent to $181.6 million.


Textiles machinery imports dipped by 14.8 percent to $252.4 million, power generation machinery by 4.8 percent to $701.68 million, electrical machinery and apparatus by 4.4 percent to $547 million, and agricultural machinery decreased by 13 percent to $77 million from the corresponding period of the last fiscal year.


According to detailed trade figures from PBS, imports of manufactured fertilisers dipped by 52 percent to $491.5 million, plastic materials by 10.4 percent to $921.36 million, insecticides by 54.6 percent to $47.33 million, while import of medicinal products imports rose by 12.5 percent to half a billion dollars over the corresponding period of the last fiscal year.


Under the completely built units (CBU) category, from July 2012 to Feb 2013 imports of buses, trucks and other heavy vehicles increased by 14 percent to $93.8 million and motor cars by 8.8 percent to $246.65 million.


Under the completely knocked down/semi knocked down category, imports of buses, trucks and other heavy vehicles rose by 7.73 percent to $91.47 million, while imports of motor cars fell by 24.2 percent to $237.3 million.


The economy also spent $3.03 billion on imports of food items; 11.68 percent less than last year. In this group, palm oil imports stood at $1.41 billion which was 12.4 percent less than last year, spices decreased by 32.7 percent to $45.9 million and imports of milk, cream and food for infants decreased by 13.6 percent to $91.88 million.


On gold, iron and steel imports, $2.07 billion were spent – 13.8 percent more than last year. Gold imports totalled $143.6 million – signifying a rise by 48 percent.


Pakistan’s textiles occupied a little more than half of the country’s total exports. They stood at $8.48 billion against $7.96 billion last year, depicting an increase of 6.55 percent. Rice exports dropped by 6.13 percent to $1.24 billion from $1.32 billion recorded last year.


In the textiles group, cotton yarn exports rose by 31.3 percent to $1.44 billion, cotton cloth by 11.7 percent to $1.72 billion, tent canvas and tarpaulin by 34.2 percent to $78.7 million and readymade garments by 8.7 percent to $1.167 billion, knitwear by 2.3 percent to $1.36 billion, and towels by 15.56 percent to $505 million.


On the other hand, bedwear exports dipped by 2.88 percent to $1.15 billion and raw cotton decreased by 63.3 percent to $107.9 million as compared to the previous year. During the period, exports of petroleum and coal went down by 99.77 percent to only $1.5 million against $659.98 million in the corresponding period last year. Cement exports shot up by 24 percent to $376 million over the same period last year when it stood at $303.7 million. This phenomenal increase is due to exports to Afghanistan where reconstruction activities are on the rise.


Jewellery exports increased by 138.7 percent to $1.208 billion, gems exports rose by 17 percent to $2.74 million and furniture exports by 22.5 percent to $5 million.


Exports of carpets, rugs and mats decreased by 2.3 percent to $80.57 million, leather manufactures decreased by 2.58 percent to $364.75 million while leather tanned exports rose by 1.75 percent to $283 million over the corresponding period of the last fiscal year.


Additionally, exports of food items increased by 9.2 percent to $2.96 billion. Wheat exports decreased by 55 percent to $43.47 million and tobacco exports fell by 33 percent to $12.55 million over the same period of the last fiscal year.


Fish and fish preparation exports increased by 2.48 percent to $200 million, vegetables by 51 percent to $118.7 million, spices by 39.3 percent to $40.4 million and meat and meat preparation exports increased by 31.3 percent to $143 million over the same period of the last fiscal year. During these eight months, sugar exports stood at $214.4 million.

Courtesy:   The News


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