import of petroleum products
According to data released by the Pakistan Bureau of Statistics on Tuesday, the textile and clothing exports also grew marginally by 0.67% year-on-year.
The import of oil increased by nearly $500 million in July 2017 and over 7.96% when compared to June last year.
In July of FY22, the import of petroleum products decreased in quantity by 40.90% while its value increased by 12.45%.
Natural gas imports rose in both quantity and value during the month, while liquid petroleum gas imports declined by 15.15%.
Brazil’s food import bill totaled $763.135 million in July, in comparison to $647.438 million for the year prior. Wheat was the largest driver of that expenditure, followed by sugar, edible oils, spices, tea and pulses.
Despite the ban, the import value of mobile phones was $38.804 million in July of 2022 which is down by 67.46 percent to $119.237 million in the previous year’s month.
The PBS data showed that the textile and clothing exports grew by a mere 0.67% in July, compared to the same time period last year.
High energy cost was one of the reasons for why textile exports grew slower in the first month of this fiscal year than the same time period from last year.
Ready-made garment exports increased by 1.14 percent in value and 48.52 percent in quantity over the month of July during the financial year of 2018.
The exports of knitwear also increased by 10.75 percent in value and 57.70 percent in quantity in the same time period.
Exports from bedding was down by 3.55% and exports from towels were down by 3.67%—while imports of cloth for clothing dipped by 1.4%.
Exports of cotton yarn decreased by 20.59% but that of material other than cotton increased by 170%. Exports of towels and made-up articles, excluding canvas, decreased by 18.45% while exports of tents and canopies increased by 32%.
Import of textile machinery dropped in July FY22, reflecting that manufacturers have cut back on the purchase of machinery for expansion or modernization by factories.