Gold imports during the fiscal year 2022-23 saw a significant increase of 35.48 percent compared to the previous year, the Pakistan Bureau of Statistics (PBS) reported.
The total gold imports for July-June 2022-23 were reported at $30.651 million, while it was $22.623 million in July-June 2021-22.
In terms of quantity, Pakistan imported 496 kilograms of gold during the mentioned period, marking a growth of 37.40 percent compared to the 361 kilograms imported last year.
Additionally, on a month-on-month basis, gold imports in June 2023 decreased by 4.33 percent compared to May 2023 when imports were valued at $3.421 million.
It is noteworthy that the overall trade deficit for the fiscal year 2022-23 witnessed a significant decline of 43.03 percent compared to the previous year (2021-22). The trade deficit for July-June 2022-23 was recorded at $27.547 billion, showing a substantial decrease from the deficit of $48.354 billion in July-June 2021-22.
The exports during the mentioned period amounted to $27.744 billion, reflecting a decline of 12.71 percent compared to $31.782 billion in the previous year. On the other hand, imports saw a sharp decline of 31 percent, reducing from $80.136 billion in the previous year to $55.291 billion during the fiscal year 2022-23.
