Gold imports fall by 40.39pc in 10 months

ISLAMABAD: The gold imports decreased by 40.39 percent during the first ten months of the current fiscal year as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.

The gold imports into the country during July-April (2020-21) were recorded at $6.931 million as compared to the imports of $11.627 million during July-April (2019-20), the data revealed.

Meanwhile, on year-on-year basis, the gold imports into the country witnessed increase of 483.33 percent during the month of April 2021 as compared to the imports of April 2020. The gold imports during April 2021 were recorded at $0.980 million against the imports of $0.168 million in April 2020.

In terms of quantity, the gold imports increased by 466.67 percent from 3 kilograms during April 2020 to imports of 17 kilograms in April 2021.

On month-on-month basis, the gold imports during April 2021 increased by 53.85 percent as compared to the imports of $0.637 million in March 2021 while in terms of quantity, the imports increased by 54.55 percent in April 2021 when compared to the imports of 11 kilogram in March 2021.

It is pertinent to mention here that the merchandize exports from the country increased by 13.49 percent during the first ten months of the current fiscal year.

The exports from the country were recorded at $20.881 billion during July-April (2020-21) against the exports of $18.399 billion in July-April (2019-20).

On the other hand, the merchandize imports into the country also increased by 17.67 percent by going up from $37.992 billion last year to $44.706 billion during the current year.

Based on the figures, the trade deficit increased by 21.60 percent by swelling from $19.593 billion last year to $23.825 billion during the current fiscal year.