Gold imports fall by 22.79% to $8.97 million in FY21

26
Gold rate in Pakistan
Islamabad

The gold imports decreased by 22.79 percent during the fiscal year 2020-21 as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.

The gold imports during July-June (2020-21) were recorded at $8.977 million as compared to the imports of $11.627 million during July-May (2019-20), according to the data.

In terms of quantity, Pakistan imported 148 kilograms of gold during the period under review as compared to the imports of 275 kilograms last year, showing a decline of 46.18 percent.

Meanwhile, on year-on-year basis, the gold imports witnessed cent per cent increase during the month of June 2021 as compared to the imports of June 2020.

The gold imports during June 2021 were recorded at $0.467 million whereas there were no gold imports during June 2020.

On month-on-month basis, the gold imports during June 2021 decreased by 69.83 percent as compared to the imports of $1.580 million in May 2021.

It is pertinent to mention here that the overall merchandize imports into the country increased by 26.60 per cent during the fiscal year 2020-21 as compared to the corresponding period of last year. The imports during the year were recorded at $56.405 billion against the imports of $44.553 billion last year.

On the other hand, the exports from the country were recorded at $25.304 billion during the year, showing growth of 18.28 percent when compared to the exports of $21.394 billion last year.

Based on the figures, the country trade deficit increased by 34.29 percent during the period under review as compared to the corresponding period of last year. The trade deficit during the period was recorded at $31.101 billion against the deficit of $23.159 billion last year.—APP

Previous articleKCR’s feasibility study to be finalized by Aug 15
Next articlePTI victory in AJK reflects people’s trust in PM policies