Pakistan’s Oil Imports Show Slight Growth, Petroleum Exports Soar
ISLAMABAD – Pakistan’s oil import costs showed only a small increase, while the country’s petroleum exports skyrocketed in the first eight months of the current fiscal year.
According to data from the Pakistan Bureau of Statistics (PBS), oil imports grew by just 1.2%, reaching $10.71 billion in the period from July to February 2025, compared to $10.58 billion last year.
On the other hand, petroleum product exports saw a remarkable 96% increase, rising to $358.15 million from $183.33 million during the same period last year.
Impact of Increased Crude Oil Imports
The rise in crude oil imports pushed local refineries to produce more petroleum products than expected. This increase in local production and exports is likely to support economic growth in Pakistan during the current fiscal year.
Details of Oil Imports and Exports
In the first eight months of FY25, crude oil imports grew by 6.51% compared to the previous year, with imports reaching 6.58 million tonnes from 5.47 million tonnes. However, the value of petroleum product imports decreased by 3.87%, even though the volume of these imports increased by 9.49%, totaling 6.95 million tonnes.
Liquefied natural gas (LNG) imports saw a decline of 6.11%, while imports of liquefied petroleum gas (LPG) increased by a strong 45.49%.
The rise in crude oil imports indicates increased transportation and economic activities across Pakistan, suggesting that local refineries are operating at higher capacities than last year, leading to greater profitability. This also means more petroleum products are being produced locally.
Growth in Petroleum Production
The data revealed that production of all 11 petroleum products was up by 2.47% compared to last year. Specifically, production of high-speed diesel, mainly used in transport and agriculture, grew by 6.21%. However, overall petroleum production showed a slight decrease of 0.76%.
Furnace oil production, on the other hand, surged by nearly 19.74% in January 2025.
Petroleum Exports Nearly Double
Exports of petroleum products nearly doubled in the first eight months of FY25. The export value increased by 95.36% year-on-year, reaching $358.15 million. Almost all petroleum products, including crude oil, saw growth in exports.
The export of petroleum crude reached 40,552 tonnes, compared to zero exports in the same period last year. Exports of other petroleum products, excluding top naphtha, grew by 72.34%, reaching 651,662 tonnes. Meanwhile, top naphtha exports rose sharply by 113.77%, reaching 44,571 tonnes.
