Pakistan Gold imports elevated by 24.28% in FY18

ISLAMABAD: Pakistan’s gold imports amplified by almost 24.28% in the FY18, compared to the same period in last year.

The statistics revealed by Pakistan Bureau of Statistics (PBS) clearly stated that Pakistan imported gold of value $20.713 million during July-June (2017-18) against the import f worth $16.667 million in July-June (2016-17), which explains increase of import by 24.28%.

Pakistan has traded in 509 kilograms of gold in FY18, compared to the last year’s import of 440 kilograms, presenting augmentation of 15.68%.

On yearly basis, gold imports in Pakistan increased by 86.70% in June 2018 compared to June 2017, it is observed that in June 2018 gold imports were  documented at $1.404 million as compared to $0.752 million of last year.

However, on monthly basis, gold imports in Pakistan showed a downward trend by 34.62% in June 2018 as compared to the month of May 2018 where gold imports valued around $2.131 million.

ALSO READ: Gold price dip sparks little cheer; India buyers unmoved

According to data, it is observed that the overall imports of Pakistan has enlarged by 15.10% for FY17-18, as compared to FY16-17. The imports in the FY17-18 were almost $60.898 billion and in FY16-17 the imports valued $52.910.

The exports from Pakistan has gushed by 13.74% for FY18, the exports valued almost $23.228 billion for FY18, compared to last year’s exports of value $20.422 billion.