ISLAMABAD: The imports of gold witnessed a decline of 58.54 percent during the first four months of the current fiscal year as compared to the corresponding period of last year.
The gold imports during July-October (2020-21) were recorded at $2.341 million against the imports of $5.647 million during July-October (2019-20), showing a decline of 58.54 percent, according to the latest data of Pakistan Bureau of Statistics (PBS).
In terms of quantity, the gold imports shrunk by 72.34 percent by falling from 141 kilograms last year to the imports of 39 kilograms during the period under review.
Meanwhile, on year-on-year basis, the gold imports witnessed slight decrease of 0.31 percent in October 2020 when compared to the imports of October 2019. The gold imports during October 2020 were recorded at $1.285 million against the imports of $1.173 million in October 2019.
On month-on-month basis, the gold imports witnessed 21.69 percent increase as compared to the imports of $1.056 recorded in September 2020, the PBS data revealed.
It is pertinent to mention here that the country’s trade deficit witnessed a reduction of 1.88 percent during the first four months of the current fiscal year as compared to the deficit of the corresponding period of last year.
The deficit during the current year was recorded at $7.577 billion as compared to the deficit of $7.722 billion last year. During the period under review, the country’s overall exports registered positive growth of 0.33 percent, by going up from $7.529 billion last year to $7.554 billion during the current year.
On the other hand, the imports decreased by 0.79 percent, from $15.251 billion last year to $15.131 billion during the current year.