Gold imports surge by 160 percent in three quarters

Pakistan Bureau of Statistics (PBS) stated that a 160.03 percent increase was witnessed in gold imports during the three quarters of the current fiscal year as compared to the corresponding period of last year.

The gold imports were recorded at $15.474 million during July-March (2021-22) as compared to imports of $5.951 million during July-March (2020-21)

The country imported 253 kilograms of gold during the period during the three quarters of the fiscal year. It showed an increase of 158.51 percent as it was 98 kilograms last year. 

Moreover, the gold imports witnessed an increase of 156.83 percent during the month of March 2022 as far as the month-to-month basis is concerned. The gold imports in March this year was 1.636 million as compared $0.637 of last year.

It decreased by 22.32 percent as compared to the imports of $2.106 million in February 2021 on month-to-month basis. 

On the other hand, gold imports jumped by 109.09 percent to 23 kilograms in March 2022 against the imports of 11 kilograms in March 2021. It fell by 24.29 percent in March 2022 when compared to the imports of 35 kilograms registered in February.

It is to be noted that imports in overall merchandise went up by 48.63 percent in the three quarters of the fiscal year. It increased from $39.489 billion last year to $58.691 billion in July-March this year.

As far as the exports were concerned, an increase of 24.67 percent was recorded at $23.298 billion this year as compared to $18.687 billion last year. The exports climbed by 15.91 percent during March 2022 as compared to the exports of the same month of last year on year-on-year basis.

The export climbed to of $2.364 billion in March last year to $2.740 billion to March of this year. 

The PBS data showed the imports has showing growth of 9.86 percent as it went up from $5.631 billion in March 2021 to $6.186 billion in March 2022.