Gold Imports Increase 8.89 In 8 Months

The gold imports into the country increased by 8.89 percent during the first eight months of the current financial year (2019-20) as compared to the corresponding period of last year

ISLAMABAD, (UrduPoint / Pakistan Point News - 7th Apr, 2020 ) :The gold imports into the country increased by 8.89 percent 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 (2019-20) compared to the imports of $10.275 million during July-February (2018-19), showing growth of 8.89 percent, 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 imports of 262 kilograms during last year, showing increase of 1.53 percent.

Meanwhile, on year-on-year basis, the gold imports into the country during February 2020 witness 100.9 percent increase when compared to the imports of the same month of the last year.

The gold imports during the month under review were recorded at $1.121 million against the imports of 0.558 million during February 2019.

On month-on-month basis, the gold imports during February 2020 witnessed increase of 24.

69 percent when compared to the imports 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 imports of 13 kilogram in February 2019 and 18 kilogram in January 2020, showing 69.23 percent and 22.22 percent increase respectively.

Meanwhile, the country's total exports registered about 2.23% growth, whereas imports reduces by 14.42% during the first three quarters of the current fiscal year.

During the period from July-March (2019-200, the exports witnessed an increase of 2.23% and reached to $17.451 billion against the exports of $17.071 billion of the same period of last year whereas the imports witnessed significant decrease and went down from $40.679 billion in first three quarters of last financial year to $34.814 billion of same period of current financial yearBased on the figures, the trade deficit during the period under review was recorded at $17.363 against the deficit of $23.608 during last year, showing decline of 26.45 percent.