Gold imports fall 12pc in FY20

Pakistan’s merchandise trade deficit declined by 27.11pc in FY20 compared to FY19

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ISLAMABAD: Imports of gold into the country decreased by 12.01 per cent to $11.627 million during the fiscal year 2019-20 (FY20) as compared to imports of gold of $13.214 million in the previous year.

According to the latest data published by the Pakistan Bureau of Statistics (PBS), the country imported 275 kilogramme (kg) of gold during the period under review compared to imports of 335kg during the last year, showing a decrease of 17.91 per cent.

Meanwhile, on an Year-on-Year (YoY) basis, imports of gold into the country during June 2020 witnessed a 100 per cent decline as no gold was imported during the month compared to the imports of gold amounting to $1.326 million during June 2019.

Pakistan’s merchandise trade deficit witnessed a significant reduction during FY20 and declined by 27.11 per cent compared to the previous year.

The country’s deficit during FY20 stood at $23.183 billion compared to the deficit of $31.805 billion during FY19

During the period under review the country’s exports registered a decrease of 6.84 per cent going down from $22.958 billion in FY19 to $21.387 billion during FY20 whereas imports declined by 18.61 per cent from $54.763 billion in FY19 to $44.570 billion in FY20.

 

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