Gold imports fall 6.57 pc during July-October (2012-13)

ISLAMABAD: The gold imports into the country fell in first four months (July-October) of current fiscal year by 6.57 per cent against the same period of last year.

The imports of gold during the period under review remained US $58.427 million against the imports of US $62.533 million during the same period of previous year.

According the data of Pakistan Bureau of Statistics, the overall imports of metal group, however registered an increase of 15.83 per cent during July-October (2012-13) against the same period of last year.

The metal imports during the period under review remained $105.47 million against imports of $91.05 million during same period of last year.

Imports of iron and steel scrap registered a growth of 38.51 percent during July-October (2012-13).

Iron and steel scrap imports into the country were recorded at $247.234 million during the first four months of current fiscal year against imports of $178.490 million during July-October (2011-12).

Imports of iron and steel edged up by 4.85 percent by growing from $433.308 million to $454.320 million whereas the imports of aluminum wrought and worked decreased by 3.32 percent by going down from $39.708 million to $38.39 million.

The imports of all other metal and articles were recorded at $256.325 million during the period under review against the imports of $39.708 million in last year posting a growth of 30.43 percent.

Meanwhile, during the month of October 2012, the gold imports into the country witnessed increase of 16.52 percent when compared to the imports of October 2011 whereas the gold imports during October 2012 over September 2012 increased by 211.88 percent.

Gold imports in October 2012 stood at $30.006 million against the imports of $25.751 million and $9.621 million in October 2011 and September, 2012 respectively.

It is pertinent to mention here that overall imports into the country during the period July-October 2012-13 witnessed decrease of 0.55 percent.

The total imports into the country were recorded at US$14.643 billion in July-October 2012-13 against the imports of US$14.723 billion during the same period of last year, the PBS data revealed.