Gold imports increase 8.89 percent in 8 months
ISLAMABAD: The gold imports into the country increased by 8.89 percent during the first eight months of the current financial year (2019-20) as compared to the corresponding period of last year.
Pakistan imported gold worth $11.188 million during July-February (2019-20) compared to the imports of $10.275 million during July-February (2018-19), showing growth of 8.89 percent, according to the Pakistan Bureau of Statistics (PBS).
In terms of quantity, the country imported 266 kilograms of gold during the period under review compared to imports of 262 kilograms during last year, showing increase of 1.53 percent.
Meanwhile, on year-on-year basis, the gold imports into the country during February 2020 witnessed 100.9 percent increase when compared to the imports of the same month of the last year.
The gold imports during the month under review were recorded at $1.121 million against the imports of 0.558 million during February 2019.
On month-on-month basis, the gold imports during February 2020 witnessed increase of 24.69 percent when compared to the imports of $0.899 million in January 2020, the data revealed.
In terms of quantity, Pakistan imported 22 kilograms of gold in February 2020 against the imports of 13 kilogram in February 2019 and 18 kilogram in January 2020, showing 69.23 percent and 22.22 percent increase respectively. It is pertinent to mention here that the country's trade deficit during first 8 months of current fiscal year declined by 26.52% as compared to the corresponding period of last year.
During the period from July-February, 2019-20 exports from the country registered 3.65% growth and reached $15.648 billion as compared to the exports of $15.097 billion of same period of last year.
The imports into the country registered significant decrease of 14.06% in last eight months and came down from $36.563 billion last year to $31.421 billion during the period under review. - APP