Gold imports up by 20.4pc in 8 months

ISLAMABAD: The gold imports during the first eight months of current fiscal year 2013-14 surged by 20.4 percent as against the same period of last year.

According to data of Pakistan Bureau of Statistics (PBS), during the period under review, 4,203 kilogram of yellow metal worth of US$ 17.601 million was imported as compared to 2,639 kg valuing $13.828 million during July-February 2012-13.

The overall imports of metal group, registered a decrease of 9.7 per cent during the first eight months of the year 2013-14 against the same period of last year.

The metal imports in to the country during the period under review were recorded at $1.877 billion against imports of $2.078 billion during same period of last year.

Imports of iron and steel scrap registered increase of 2.1 percent during July-February (2013-14) as compared to the imports during July-February (2012-13).

Iron and steel scrap imports into the country were recorded at $464.947 million during the first eight months of current fiscal year against the imports of $455.374 million during same period of last year.

The imports of iron and steel, however decreased by 20.18 percent by going down from $986.541 million during July-February (2012-13) to $787.448 million this year whereas the imports of aluminum wrought and worked increased by 1.94 percent by going up from $76.1 million to $77.577 million.

The imports of all other metal and articles were recorded at $373.9 million during the period under review against the imports of $416.818 million during same period of last year posting a negative growth of 10.3 percent.

On month on month basis the gold imports in February 2014 registered a decrease of 100 percent when compared to the imports in February, 2013 and January 2014 as no gold was imported during the month due to the ban on import of gold imposed by the government.

Similarly the overall metal group imports in February 2014 decreased by 14.1 percent and 12.66 percent when compared to the imports during February, 2013 and January 2014 respectively.

The imports of the metal group in to the country decreased from $254.737 million in February 2013 and $250.536 million in January 2014 to $218.817 million in February 2014.