ISLAMABAD - The government has estimated to spend huge amount of $15.287 billion on oil import during the next financial year 2012-13 showing an increase of six per cent as compare to $14.23 billion of the outgoing fiscal year 2011-12.

According to the documents, overall imports of the country are projected at $45.691 billion for the next fiscal year against $ 43.11 billion of the outgoing financial year. The exports for the next fiscal year are projected at $25.812 billion compared to the $24.840 billion of the outgoing year. Trade deficit of the country is estimated at around $20 billion for the next financial year.
The break-up of country’s import revealed that government would spend $3.557 billion on foods commodities imports in next fiscal year against $3.356 billion of the outgoing financial year. Meanwhile, the government would spend $4.269 billion on machinery imports and $2.071 billion the import of transport group during next financial year 2012-13.
However, huge amount of $15.287 billion would be spent on oil import in the upcoming fiscal year, which was $14.23 billion in outgoing financial year. In petroleum group, the country would import petroleum products worth of $10.167 billion and petroleum crude worth of $5.120 billion in next fiscal year. However, sources said that oil import could fluctuate, as oil prices change in international with a constant pace.
Meanwhile, textile made commodities import would eat $2.474 billion, agricultural and other chemical related commodities imports would go to $2.209 billion, miscellaneous group import $0.832 billion and all others commodities imports $11.359 billion in the next fiscal year.
According to documents, government has estimated to exports commodities worth of $25.812 billion in upcoming financial year 2012-13 against $24.840 billion of outgoing fiscal year 2011-12. The break-up of food exports revealed that government has projected to receive $5.212 billion from foods exports in upcoming fiscal year as compare to the $4.964 billion of the outgoing financial year.
Meanwhile, the government has planned to export textile made commodities worth of $13.192 billion for upcoming financial year 2012-13 as against $12.564 billion of the outgoing fiscal year 2011-12. Similarly, the government would exports petroleum group and coal worth of $1.018 billion, other manufacturing group exports would go to $5.197 billion and all other exports of $641.6 million in next fiscal year.