Daily Times

The gold imports increased by 26.43 percent during the first five 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 the July-November (2022-23) were recorded at $11.172 million as compared to the imports of $8.837 million during July-November (2021-22), according to the data. In terms of quantity, Pakistan imported 193 kilograms of gold during the months under review as compared to the imports of 148 kilograms last year, showing growth of 30.41 percent.

Meanwhile on year-on-year basis, the gold imports into the country witnessed a decrease of 31.79 percent as these were recorded at $2.189 million in November 2022 against the imports of $3.209 million in November 2021. In terms of quantity, the imports of the commodity declined by 36.36 percent, from 55 kilograms in November 2021 to 35 kilograms in November 2022.

Meanwhile, on month-on-month basis, the gold imports during November 2022 decreased by 11.05 percent when compared to the imports of $2.461 million in October 2022.

In terms of quantity, the gold imports decreased by 14.63 percent in November 2022 when compared to the imports of 41 kilogram registered in October. It is pertinent to mention here that the merchandise trade deficit during the first five months witnessed a decline of 30.14 per cent and was recorded at $14,406 million this year against the deficit of $ 20,621 million last year. According to PBS data, the exports from July-November (2022-23) were recorded at $11,932 million against the exports of $12,362 million in July-November (2021-22), showing a decline of 3.48 percent.