Pakistan’s annual oil import bill reached $16.86 billion in the 2025-26 fiscal year, exceeding International Monetary Fund estimates by $1.58 billion.
The surge was driven by soaring global oil prices amid intensifying geopolitical tensions between the United States and Iran, which have kept a premium on crude benchmarks throughout the period.
23% to $14.953 billion in the first 11 months of the fiscal year alone.
The overshoot underscores the vulnerability of Pakistan’s external accounts to energy price volatility.
The full-year figure builds on a trajectory that saw petroleum imports climb 2.23% to $14.953 billion in the first 11 months of the fiscal year alone.
The final month’s spending accelerated the total, reflecting the persistent pressure on import bills as Brent crude traded at elevated levels.
For market participants, the data highlights the ongoing strain on emerging-market current accounts when geopolitical risk premiums embed into energy prices.