Gold imports up 87.02pc in July-November 2013

ISLAMABAD: The gold imports during the first five months of current fiscal year 2013-14 surged by 87.02 percent as against the same period of last year.

According to data revealed by Pakistan Bureau of Statistics (PBS), during the period under review, 3,427 kilograms of yellow metal worth of US $139.921 million was imported as compared to the import of 1,380 kg valuing $74.815 million during July-November 2012-13.

The overall imports of metal group, registered a decrease of 12.64 per cent during the first five 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 $1.138 billion against imports of $1.303 billion during same period of last year.

Imports of iron and steel scrap registered decrease of 1.77 percent during July-November (2013-14) as compared to the imports during July-November (2012-13).

Iron and steel scrap imports into the country were recorded at $300.983 million during the first five months of current fiscal year against the imports of $306.408 million during same period of last year.

The imports of iron and steel also decreased by 23.8 percent by going down from $577.8 million during July-November (2012-13) to $440.268 million this year whereas the imports of aluminum wrought and worked also decreased by 10.48 percent by going down from $48.61 million to $43.51 million.

The imports of all other metal and articles were recorded at $214 million during the period under review against the imports of $295.765 million during same period of last year posting a negative growth of 27.65 percent.

On month on month basis the gold imports in November 2013 registered a decrease of 89.22 percent when compared to the imports in November, 2012 and it increased by 8.47 percent when compared to that of October, 2013.

Gold imports in November 2013 stood at $1.767 million against the imports of $16.391 million in November 2012 and $1.629 million in October 2013 respectively.

Similarly the overall metal group imports in November 2013 decreased by 21.8 percent and 7.16 percent when compared to the imports during November, 2012 and October 2013 respectively.

The imports of the metal group in to the country decreased from $244.128 million in November 2012 and $205.544 million in October 2013 to $190.837 million in November 2013.