Gold imports decline by 48.10%

ISLAMABAD: Pakistan's gold imports declined by 48.10% in the first three quarters of the ongoing fiscal year compared to the same period last year, showed the data issued by the Pakistan Bureau of Statistics (PBS).

Pakistan had recorded gold imports during July-March (2020-21) at $5.947 million as compared to the $11.459 million gold imported in the last fiscal year.

In terms of quantity, Pakistan imported 98 kilograms of gold during the period under review as compared to the imports of 272 kilograms last year, showing a decline of 63.97%.

Meanwhile, on a year-on-year basis, the gold imports into the country witnessed an increase of 135.69% during the month of March 2021 as compared to March 2020.

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On a month-on-month basis, the gold imports during March 2021 increased by 9.12% as compared to the imports of $0.581 million in February 2021 while in terms of quantity, the imports increased by 10% in March 2021 when compared to the imports of 10 kilograms in February 2021.

It is pertinent to mention here that the country’s merchandise imports during the first three quarters increased by 13.57% by growing from $34.791 billion last year to $39.512 billion during the current fiscal year.

On the other hand, the exports also increased by 7.12%, to $18.685 billion against the exports of $17.443 billion last year.