Gold imports dip 20.48pc in 3 quarters

ISLAMABAD: The gold imports into the country dipped by 20.48 percent during the first three quarters of the current fiscal year (2018-19) as compared to the corresponding period of last year.

Pakistan imported gold worth $11.861 million during July-March(2018-19) compared to the imports of $14.916 million during July-March (2017-18), showing decrease of 20.48 percent, according to the latest data of Pakistan Bureau of Statistics (PBS).

Meanwhile, on year-on-year basis, the gold imports into the country narrowed by  27.81 percent in Marc 2019 compared to the same month of last year. The gold imports in Marc 2019 were recorded at $1.588  million against the imports of $1.736 million in March 2018.

On month-on-month basis, the gold imports increased by 185.61 percent during March 2019 when compared to the imports of $0.556million in February 2019.

It is pertinent to mention here that country's merchandize trade deficit plunged by 13.02 percent during July-March (2018-19) as the deficit contracted by over $3.544 billion to $23.672 billion in the period under review against the deficit of $27.216 billion recorded during same period of the previous year.

The exports during the period under review witnessed an increase of 0.11% to $17.08 billion from $17.064 billion during July-March (2017-18).

On the other hand, the imports declined by 7.96% to $40.755 billion from $44.281 billion recorded during first nine months of current fiscal year.

On year-on-year basis, the imports into the country witnessed negative growth of 20.88% during March 2019 when compared to the imports of same month of last year.

The imports during March 2019 were recorded at $4.155 billion against the imports of $5.25 billion in March 2018.