Business

Gold imports surge by 159% in 10 months

Written by The Frontier Post

ISLAMABAD (APP): The gold imports increased by 159.87 percent during the first ten months of the current fiscal year as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.
The gold imports during July-April (2021-22) were recorded at $18.006 million as compared to the imports of $6.929 million during July-April (2020-21), according to the data. In terms of quantity, Pakistan imported 287 kilograms of gold during the period under review as compared to the imports of 115 kilograms last year, showing positive growth of 149.57 percent.
Meanwhile, on year-on-year basis, the gold imports witnessed an increase of 158.90 percent during the month of April 2022 as compared to the imports of the same month of last year. The gold imports during April 2022 were recorded at $2.532 million as compared to the imports of $0.978 million during last April.
In terms of quantity, the gold imports increased by 117.65 percent to 37 kilogram in April 2022 against the imports of 17 kilogram in April 2021.
On month-on-month basis, the gold imports during April 2022 increased by 54.73 percent when compared to the imports of $1.636 million in March 2022.
In terms of quantity, the gold imports increased by 85 percent in April 2022 when compared to the imports of 20 kilogram registered in March.
It is pertinent to mention here that the overall merchandize imports into the country during the first ten months of ten years went up by 46.41 percent by growing from $44.731 billion last year to $65.492 billion in July- April (2021-22).
The exports from the country witnessed an increase of 25.46 percent and were recorded at $26.228 billion during July-April (2021-22) against the exports of $20.905 billion recorded last year. Based on the data, the trade deficit during the period under review was recorded at $39.264 billion, showing an increase of 64.79 percent over the deficit of $23.826 billion recorded during July- April (2020-21), the PBS data revealed.

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