Gold imports up by 147% to $11 million in seven months
Business
Gold imports increased by 147.88 percent during the first seven months of the current fiscal year
ISLAMABAD (APP) - The gold imports increased by 147.88 percent during the first seven 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-January (2021-22) were recorded at $11.732 million as compared to the imports of $4.733 million during July-January (2020-21), according to the data.
In terms of quantity, Pakistan imported 195 kilograms of gold during the period under review as compared to the imports of 77 kilograms last year, showing positive growth of 147.88 percent.
Meanwhile, on year-on-year basis, the gold imports witnessed an increase of 392.59 percent during the month of January 2022 as compared to the imports of the same month of last year. The gold imports during January 2022 were recorded at $1.729 million as compared to the imports of $0.351 million during last January.
On month-on-month basis, the gold imports during January 2022, increased by 48.28 percent as compared to the imports of $1.166 million in December 2021.
In terms of quantity, the gold imports increased by 440 percent to 27 kilogram in January 2022 against the imports of 5 kilogram in January 2021. As compared to December 2021, the gold imports increased by 35 percent in January 2022 when compared to the imports of 20 kilogram.
It is pertinent to mention here that the country’s total merchandise exports increased by 24.48 percent during the first seven months of the current fiscal year.
The merchandize exports during July-January (2021-22) were recorded at $17.744 billion as compared to the exports of $14.255 billion during July-January (2020-21), the PBS reported.
On the other hand, the merchandize imports went up by 59.33 percent from $29.257 billion last year to $46.616 billion during the current fiscal year.
