Gold import sees steep fall by 32.04 percent in July

ISLAMABAD: The gold imports into the country decreased by 32.04 percent during the fiscal month of the current fiscal year against the imports of the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported Wednesday.
Pakistan imported gold worth $1.423 million during July 2018 against the imports of $2.094 million in July 2017, showing growth of 32.04 percent, according to latest PBS trade data.
In terms of quantity, Pakistan imported 34 kilograms of gold during the month under review compared to the imports of 52 kilograms during last July, showing a decrease of 34.62 percent.
Meanwhile, on a month-on-month basis, the gold imports into the country, however, witnessed a positive growth of 1.35 percent in July 2018 when compared to the imports of $1.404 million in June 2018, the PBS data revealed.
It is pertinent to mention here that the overall merchandise imports into the country during the month under review witnessed an increase of 0.6 percent by growing from $4.809 billion last July year to $4.838 billion.
The exports from the country witnessed an increase of 1.17 percent by reaching $1.646 billion in July 2018 from the exports of $1.627 billion in July 2017.
Based on the figures, the trade deficit during the first month of the current year increased by 0.31 percent by growing from the deficit of $3.182 billion last July to the deficit of $3.192 billion during the July 2018.
Meanwhile, on a month-on-month basis, the exports from the country decreased by 12.77 percent during the month of July when compared to the exports of $1.887 billion in June 2018.
Similarly, the imports into the country decreased by 15.03 percent in June 2018 when compared to the imports of $5.694 billion in April 2018.