ISLAMABAD: Gold imports into the country increased by 8.89 per cent during the first eight months of the current financial year (2019-20) as compared to the corresponding period of last year.
Pakistan imported gold worth $11.188 million during July-February (FY20) compared to the import of $10.275 million during July-February (FY19), showing a growth of 8.89pc, according to the Pakistan Bureau of Statistics (PBS).
In terms of quantity, the country imported 266 kilograms of gold during the period under review compared to the import of 262 kilograms during last year, showing an increase of 1.53pc.
On year-on-year basis, gold imports into the country during February 2020 witnessed a 100.9pc increase when compared to the import of the same month of last year.
Gold imports during the month under review were recorded at $1.121 million against the import of 0.558 million during February 2019.
On month-on-month basis, gold imports during February 2020 witnessed an increase of 24.69pc when compared to the import of $0.899 million in January 2020, the data revealed.
In terms of quantity, Pakistan imported 22 kilograms of gold in February 2020 against the import of 13 kilogram in February 2019 and 18 kilogram in January 2020, showing 69.23pc and 22.22pc increase respectively.
Meanwhile, the country’s total exports registered about 2.23pc growth, whereas imports reduced by 14.42pc during the first three quarters of the current fiscal year.
During the period from July-March (2019-2020), exports witnessed an increase of 2.23pc to reach $17.451 billion against the export of $17.071 billion of the same period of last year, whereas imports witnessed significant decrease and went down from $40.679 billion in first three quarters of FY19 to $34.814 billion in the same period of FY20.
Based on figures, the trade deficit during the period under review was recorded at $17.363 against the deficit of $23.608 during the last year, showing a decline of 26.45pc.
