ISLAMABAD: The import of gold into the country decreased by 4.81pc during the first five months of the current financial year (2019-20) as compared to the corresponding period of last year.
Pakistan imported gold worth $7.443 million during July-November FY20 compared to the imports of $7.819 million during July-November FY19, according to the Pakistan Bureau of Statistics (PBS).
In terms of quantity, the import of gold declined by 8.50pc, from 200 kilogrammes in 5MFY19 to 183 kilogrammes in 5MFY20.
Meanwhile, on a year-on-year basis, gold imports into the country during November 2019 witnessed a nominal increase of 1.76pc to $1.796 million when compared with $1.765 million worth of imports during November 2018.
On a month-on-month basis, the gold imports during November 2019 witnessed an increase of 53.11pc, when compared with the imports of $1.173 million in October 2019.
It is pertinent to mention that the country’s merchandise trade deficit plunged by 33.04pc during the first five months of the FY20 as compared to the same months of last year.
The trade deficit during July-November FY20 was recorded at $9.668 billion against the deficit of $14.439 billion during July-November FY19.
The exports during the period under review increased from $9.109 billion to $9.545 billion, showing a growth of 4.79pc.
On the other hand, the imports into the country witnessed a decline of 18.41pc, from $23.548 billion last year to $19.213 billion during the current fiscal year.
