ISLAMABAD - The country’s oil and food import bill has gone up by 23.11 per cent during the first seven (July-January) of the current financial year 2011-12 against the same period last year, as it has recorded at $11.794 billion in the period under review against $9.58 billion of the same period last year, revealed the official figures.

According to the figures released by Pakistan Bureau of Statistics (PBS) on Friday, the import bill of food and oil has recorded $11.794 billion during the July-January period of the year 2011-12 against the $9.58 billion of July-January period of the year 2010-11, which indicated an increase of 23.11 per cent.

According to the figures of Pakistan Bureau of Statistics, the oil import bill has went up by 36.24 per cent in one year period and recorded at $8.759 billion in July-January period of the ongoing financial year 2011-12 against the $6.429 billion of July-January of last fiscal year 2010-11. Of these, the import of crude oil was increased by 18.21 per cent to $2.902 billion during the period under review against the $2.455 billion over the corresponding period of the last year.

On the other side, import of petroleum products reached $5.857 billion in the months of July-January, up by 47.38 per cent from $3.974 billion over the corresponding period of the last year.

Meanwhile, according to the figures, the import of food items witnessed a minor decrease of 3.68 per cent in one-year period and reached to $3.035 billion in July-January period of the year 2011-12 against the $3.151 billion in July-January period of the year 2010-11.

According to data, import bill of milk products was increased by 5.94 per cent, wheat unmilled decreased by 100 per cent, imports of dry fruits and nuts surged by 0.53 per cent, import of tea increased by 3.21 per cent, import of spices reduced by 12.36 per cent, soyabean oil’s imports has gone up by 0.43 per cent, palm oil import increased by over 31.78 per cent, sugar import declined by 97.91 per cent, import of pulses went down by 9.26 per cent and import of all other food items increased by 31.90 per cent during the period under review.

Apart from oil and food imports, the country imported machinery worth of $3.223 billion, transport group imports stood at $1.152 billion, textile group, $1.432 billion, agricultural and other chemicals, $4.101 billion, metal group, $1.609 billion, miscellaneous group imports recorded at $546 million and all other items imports recorded at $2.469 billion during July-January period of 2011-12 against July-January period of 2010-11.

It might be mentioned here that Pakistan imported commodities worth of $26.327 billion in July-January 2011-12 against $22.546 billion of July-January 2010-11 that showed an increase of 17 per cent. Meanwhile, exports had recorded at $13.155 billion in the first July-January of the current fiscal year against the $13.122 billion of same period last year. Therefore, the country’s trade imbalance has been recorded at $13.172 billion in July-January of 2011-12 against $9.424 billion of July-January 2010-11 thus showing an increase of 40 per cent in one year.