Gold imports increase over 62pc in first quarter

ISLAMABAD: The imports of gold into the country increased by 62.40 percent during the first quarter of the current fiscal year compared to the imports of corresponding period of last year.

Pakistan imported gold worth $5.666 million during July-September (2017-18) compared to the imports of $3.489 million in July-September (2016-17), showing an increase of 62.40 percent, according to the data of Pakistan Bureau of Statistics (PBS).

In terms of quantity, the imports of gold witnessed an increase of 49.48 percent during the period under review, compared to the last year.

According to the data, Pakistan imported 145 kilograms of gold during the first three months of the current fiscal year compared to the imports of 97 kilograms during last year.

Meanwhile, on year-on-year basis, the gold imports into the country increased by 9.06 percent during the month of September 2017 compared to the same month of last year.

The country imported gold worth $1.168 million during September 2017 compared to the imports of $1.071 million in September 2016, the PBS data revealed.

In terms of quantity, the gold imports, however decreased by 12.50 percent during the month by going down from the imports of 32 kilogram in September 2016 to 28 kilograms in September 2017.

On month-on-month basis, the gold imports into the country decreased by 51.37 percent in September 2017 when compared to the imports of $2.402 million in August 2017.