Pakistan's Petroleum Products Import Increased by 8.15 Percent to $2.71 Billion

ISLAMABAD: Pakistan’s petroleum products import increased by 8.15 percent to $2.71 billion, whereas textile exports raised by 2.95 percent to $3.272 billion during the first quarter of the current fiscal year against $3.178 billion in the corresponding period last year, reports the Pakistan Bureau of Statistics (PBS). In quantity the petroleum products import went up by 8.84 percent to 3.671 million metric tons. Meanwhile, crude petroleum imports declined by 2.46 percent to $1.288 million and dipped by 1.57 percent to 1.66 million metric tons in quantity. Rice export has declined by 26.8 percent to $308.8 million and petroleum and coal have dropped by 98 percent to 6.35 million. Cement export between July and September FY13 increased by 30.6 percent to $146.3 million over the same period last year when it stood at $112 million. Textile exports rose due to increased exports of cotton yarn, which rose by 39.3 percent to $530.9 million. Moreover, cotton cloth exports rose by 5.3 percent to $669.67 million; tent canvas and tarpaulin by 48 percent to $26.45 million; readymade garments by10.2 percent to $448.1 million; and towel sales abroad increased by 4.78 percent. On the other hand, knitwear exports fell by 10.27 percent to $555.08 million; bed-wear by 14.6 percent to $446.98 million; art, silk and synthetic textiles by 15.8 percent to $110.53 million; and made-up items fell by 1.3 percent to $146.6 million over the same period last year. Raw cotton export also declined by 54 percent to $25 million. Jewellery sales in the international market increased by 342.7 percent to $740.5 million during the period under review, indicating potential for growth. However, lack of expertise is still a major constraint. Moreover, the mining, cutting and polishing techniques for gems and precious stones are not up to international standards. However, during this period gems exports rose by 56 percent to one million dollars while furniture exports declined by 6.66 percent to $6.346 million. Export of food items fell by 11.4 percent to $878.7 million. Furthermore, wheat exports decreased by 72.7 percent to $25.57 million and tobacco by 43.8 percent to $1.88 million. Export of fish and fish preparations rose by 7.2 percent to $63.36 million; vegetables by 3.4 percent to 26.72 million; spices by 9.1 percent to $13.34 million; and meat and meat preparation exports up by 26.9 percent to $58.96 million. Carpets, rugs and mats exports declined by 2.7 percent to $30 million; leather manufacturers declined by 16.6 percent to $136.28 million; and export of tanned leather rose by 5.86 percent to $108.96 million over the corresponding period last year. From July to September, $1.47 million was spent on the import of agricultural and chemical goods. This was 21.1 percent less than last year’s imports. Manufactured fertiliser imports declined by 52.3 percent to $164.24 million; plastic materials by 14.7 percent to $331.3 million; insecticides by 52.3 percent to $17 million; and medicinal product imports also dipped by 2.7 percent to $166.2 million. Machinery imports rose by 13.14 percent to $1.358 billion against $1.2 billion and economists consider this a good sign as these machineries are imported for further economic activities. During these three months, textile machinery imports rose by 17.45 percent to $105.65 million against $89.9 million in the same period last year. Telecom sector imports rose by 19.8 percent to $363.2 million; power generation machinery imports increased by 34.5 percent to $254 million; electrical machinery and apparatus imports rose by 1.3 percent to $163.6 million; and construction and mining machinery rose by 45.55 percent to $42.76 million. However, agriculture machinery imports dipped by 11.33 percent to $41.14 million and office machinery decreased by 17.1 percent to $51.4 million. Food group imports totalled $1.179 million against $1.26 million in the same period last year, showing a decline of 6.35 percent. Palm oil imports cost $586 million, which is 10.3 percent less than last year. Tea imports declined by 19.5 percent to $68.55 million; imports of spices decreased by 26.3 percent to $19.1 million and pulses import rose by 10.3 percent to $121.8 million over the same period. In the transport group, imports fell by 10.5 percent to $441.98 million from $493.77 million last year. Textile imports totalled $531 million against $615.1 million – a 13.66 percent reduction from last year. The decline in textile machinery imports may be attributed to a decline in external demand, export prices and the energy problems faced by the sector. Raw cotton imports rose by 27 percent to $135.2 million, while synthetic and artificial silk yarn imports decreased by 25.1 percent. Source: The News