Pakistan’s gold imports drop by 41.64%
- By Web Desk -
- Sep 22, 2024
ISLAMABAD: Rising prices in global market has lead to significant decline in gold imports in Pakistan, ARY News reported on Sunday, citing official document.
Gold imports have recorded an annual decline of 41.64%, according to official documents. In August, Pakistani importers brought in only 22 kilograms of gold.
The import bill for the 22 kilograms of gold amounted to $1.742 million. In comparison, 47 kilograms of gold were imported in August of the previous fiscal year, with a bill of $2.985 million.
Compared to July, gold imports in August decreased by 10 kilograms. In July, the import bill for 32 kilograms of gold was more than $2.196 million.
Read more: Gold rates continue to go up in Pakistan
In the first two months of the current fiscal year, gold imports have dropped by 20.78%, with a total of 54 kilograms imported in July and August, recording an import bill of $3.938 million. During the same period last fiscal year, 77 kilograms of gold were imported.