In a respite for Economy, Pakistan hydrocarbon imports reduce while exports increase

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In a respite for Economy, Pakistan hydrocarbon imports reduce while exports increase

LAHORE- In a respite for Pakistan economy, the imports of hydrocarbon have reduced while the exports have been increased in the first half of FY 2018-19.

Monthly oil and Liquefied Natural Gas (LNG) imports in December 2018 registered 11% year-on-year (YoY) decline (-17% month-on-month) to 1,849K tons compared to 2,085K tons in December 2017.

Additionally, imports of high-speed diesel (HSD) and crude oil slumped by 50% and 13% YoY respectively, according to data released by Arif Habib Research Limited (ARHL).

Moreover, LNG imports and Mogas imports rose by 33% and 21% YoY respectively.

During the first half (July-December) of the financial year 2018-19, imports declined by 17% YoY excluding LNG (-29% YoY).

However, exports grew 61% YoY to 82K tons during December and declined by 2% YoY during the first half of FY18-19.

And imports of furnace oil in December were recorded at zero.