POL imports fall slightly in nine months

Pakistan’s government during the first nine months of the current fiscal year has spent $11.08 billion on petroleum imports as compared to $11.14 billion in the same period last fiscal, according to Pakistan Bureau of Statistics.
The petroleum imports worth $11.08 billion are almost equal to the country’s foreign exchange reserves of $11.6 billion.
Imports of petroleum products increased by 12.5 percent to $7.027 billion over the corresponding period. However, crude petroleum imports declined by 317.14 percent to $4.05 billion.
Pakistan’s total imports during July-March 2012-13 stood at $33.4 billion, while exports were $18.02 billion. During the period, machinery imports increased by 17.3 percent to $4.88 billion, of which the telecom sector’s imports rose by 28 percent to $1.21 billion (including $536.7 million were spent on mobile phones imports). Construction and mining machinery imports increased by 9.3 percent to $110.4 million. On the other hand, office machinery imports declined by 7.16 percent to $196.6 million, textiles machinery by 12 percent to $277.8 million, power generation machinery by 6.6 percent to $773.5 million, electrical machinery and apparatus by 4.2 percent to $592 million and agricultural machinery by 13.2 percent to $82.1 million over the corresponding period last year. Manufactured fertilisers imports dipped by 53.6 percent to $494.6 million, plastic materials by 10.7 percent to $1.03 billion, insecticides by 43 percent to $55.3 million, while medicinal products imports increased by 17.5 percent to $583 million over the corresponding period last year.
Under the completely built units’ (CBU) category, during July-March FY2012-13 the imports of buses, trucks and other heavy vehicles increased by 3.6 percent to $107.3 million and motor cars by 2.1 percent to $259.8 million. Under the completely knocked down/semi-knocked down category, imports of buses, trucks and other heavy vehicles rose by 1.87 percent to $94.7 million, while imports of motor cars fell by 19.5 percent to $275.35 million.
In view of food items imports, the economy spent $3.35 billion, which was 11.9 percent less than last year. Under this category, palm oil imports stood at $1.54 billion, 10.2 percent less than last year. Spices imports plunged by 33 percent to $51.8 million and imports of milk, cream and food for infants also declined by 17.6 percent to $100.4 million. Further, tea imports increased by 9.13 percent to $296.5 million. During these nine months, $2.4 billion was spent on gold, iron and steel imports, which was 18.1 percent more than last year. Gold imports totalled $159 million, up by 33.5 percent. Iron and steel scrap were imported at $494.3 million, while $1.12 billion was spent on iron and steel imports during the period under review.
On the other hand, textile exports during the aforesaid period stood at $9.63 billion against 8.99 billion last year, depicting an increase of 7.1 percent.
Exports of cotton yarn increased by 29.1 percent to $1.65 billion, cotton cloth by 11.6 percent to $1.99 billion, tent canvas and tarpaulins by 30.9 percent to $84.9 million and readymade garments by 10.27 percent to $1.32 billion, knitwear by 2.8 percent to $1.51 billion, and towels by 18.1 percent to $577.7 million.
Bedwear exports stood almost stagnant at $1.31 billion, while raw cotton exports plunged by 65 percent to $126.7 million over the previous year. Rice exports declined by 7.12 percent to $1.4 billion over $1.51 billion recorded last year.
Exports of petroleum and coal went down by 99.7 percent to only $2.28 million against $721.9 million in the corresponding period last year. Cement exports shot up by 22.8 percent to $421 million over the same period last year. Exports of jewellery increased by 92 percent to $1.11 billion, gems by 17.6 percent to $3.1 million, and furniture by 23.9 percent to $5.6 million.
Carpets, rugs and mats exports declined by 5.1 percent to $87.8 million, whereas exports of leather manufacturers increased by 2.2 percent to $417.2 million and tanned leather by 6.4 percent to $334.2 million over the corresponding period last year.
Food items exports increased by 11.4 percent to $3.43 billion, of which wheat exports declined by 57 percent to $45.8 million and tobacco by 23 percent to $15.6 million over same period last year.
Exports of fish and fish preparations increased by 4.4 percent to $232.4 million, vegetables by 61 percent to $171.22 million, spices 45.5 percent to $48 million and meat and meat preparation by 28.4 percent to $157.54 million over same period last year. During these nine months, sugar exports stood at $297.6 million.