Pakistan gold imports fall drastically
ISLAMABAD, Jan 8 (APP): The import of gold into the country fell by 48.05 per cent during first five months of current fiscal year (2015-16) as compared to the same period of previous financial year.
During July-November (2016-17), 154 kilogram of yellow metal worth of US $5.822 million was imported as compared to the import of 297 kg gold worth of $11.207 million during last year's five months.
On the other hand, overall metal group imports increased by 4.42 per cent to $1.606 billion in first five months of current fiscal year from $1.538 billion in same period of last year, according to latest data of Pakistan Bureau of Statistics (PBS).
The import of iron and steel scrap also witnessed decrease of 14.04 per cent from $395.265 million last year to $339.763 million during July-November of the year 2016-17.
Similarly iron and steel import increased from $750.020 million last year to $814.521 million this year thus showing an increase of 8.6 per cent.
Similarly, the import of aluminum wrought and work increased by 2.33 percent to $73.024 million in July-November (2016-17) from $71.363 million during same period of the preceding year.
On year-on-year and month-on-month basis, the gold import in November, 2016 decreased by 59.19 per cent and 45.6 per cent over November, 2015 and October, 2016 respectively.
The gold import in November 2016 was recorded at $822,000 while in November 2015 and October 2016 its import was recorded at $2.014 million and $1.511 million respectively.
The import of overall metal group, however increased by 7.11 per cent and 14.05 per cent as compared to the import of November, 2015 and October, 2016 respectively.