Oil & Gas

Pakistan has witnessed a significant growth in petroleum group exports during the first four months of the current fiscal year 2018-19.

According to Pakistan Bureau of Statistics (PBS), Pakistan’s petroleum group exports rose to 94.14 percent during the first four months of the current fiscal year 2018-19 as compared to the first four months of the previous fiscal year 2017-18.

The petroleum and coal exports jumped to $187.55 million during the period July-October as compared to $96.61 during the same period the previous year. According to PBS data on a year-on-year basis, the petroleum group and local coal export also jacked up by 84.2 percent to the total of $41.73 million in the month of October 2018 as compared to $22.65 million in October last year.

The export of Petroleum crude oil during July-October 2018-19 increased to $104.17 million from the previous $33.1 million witnessing a sharp increase of 214 percent.

Likewise, the export of petroleum production has also increased by 36% to $55 million from the previous $40.24 million last year.

Pakistan’s overall exports have also been increased by 3.48% during the first four months of the current fiscal year from $7.04 of the last year’s figure to $7.28.

Earlier, it was also reported that Pakistan’s exports to China will be doubled during the fiscal year 2018-19. Earlier this month Pakistan’s footwear and vegetables also witnessed positive growth during the first quarter of the current fiscal year.

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