Gold imports hike by 62 per cent in first quarter

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

Pakistan imported gold worth $5.6 million during July-September (2017-18) compared to the imports of $3.49 million in July-September (2016-17), showing an increase of 62.40 per cent, according to the data of Pakistan Bureau of Statistics (PBS).

In terms of quantity, the imports of gold witnessed an increase of 49.48 per cent 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 the year-on-year basis, the gold imports into the country increased by 9.06 per cent during the month of September 2017 compared to the same month of last year. The country imported gold worth $1.16 million during September 2017 compared to the imports of $1.07 million in September 2016, the PBS data revealed.

In terms of quantity, the gold imports, however, decreased by 12.50 per cent during the month by going down from the imports of 32 kilograms in September 2016 to 28 kilograms in September 2017. On the month-on-month basis, the gold imports into the country decreased by 51.37 per cent in September 2017 when compared to the imports of $2.40 million in August 2017.