Gold imports dip 22.06% in first eight months

March 20, 2019: The gold imports into the country dipped by 22.06 percent during the first eight months of the current fiscal year (2018-19) as compared to the corresponding period of last year.

Pakistan imported gold worth $10.272 million during July-February (2018-19) compared to the imports of $13.180million during July-February (2017-18), showing decrease of22.06percent, according to the latest data of Pakistan Bureau of Statistics (PBS).

In terms of quantity, Pakistan imported262 kilograms of gold during current year compared to the imports of 326 kilogram, showing negative growth of 19.63 percent.

Meanwhile, on year-on-year basis, the gold imports into the country increased by 64.99percent in February 2019 compared to the same month of last year.

The gold imports in February 2019 were recorded at $0.556 million against the imports of $0.337 million in February 2018.

In terms of quantity, Pakistan imported 14kilograms of gold during February 2019 against the imports of 08 kilograms in February 2018, showing gain of 75 percent.

On month-on-month basis, the gold imports decreased by 42.44percent during February 2019 when compared to the imports of $0.966million in January2019.

In terms of quantity, the gold imports witnessed decrease of 44percent when compared to imports of 25 kilogram during January 2019, the PBS data revealed.

 It is pertinent to mention here that the country's merchandize trade deficit plunged by 11.03 percent during July-February (2018-19) as the deficit contracted by over $2.668 billion to $21.523 billion during the first eight months against the deficit of $24.191 billion the previous year.

 The exports during the period under review witnessed an increase of 1.85 percent to $15.113 billion from $14.838 billion whereas the declined by 6.13 percent to $36.636 billion from $39.029 billion recorded during eight months of current fiscal year, the data revealed.

(APP)