ISLAMABAD: The imports of the precious metal (gold) went up by 35.48 percent during the fiscal year 2022-23 against the last year, the Pakistan Bureau of Statistics (PBS) reported on Monday.
According to the report, the gold imports during July-June (2022-23) were recorded at $30.651 million against the imports of $22.623 million during the same period in 2021-22).
The data further maintained that Pakistan imported 496 kilograms of gold in terms of quantity during the months under review against the imports of 361 kilograms last year, observing a growth of 37.40 percent.
Meanwhile, on a year-on-year basis, the gold imports into the country recorded a decline of 48.22 percent as these were recorded at $3.273 million in June 2023 compared to the imports of $3.641 million in June 2022.
In terms of quantity, the imports of the commodity decreased by 11.86 percent, from 59 kilograms in June 2022 to 52 kilograms in June 2023.
Gold Import Down on Monthly Bases
Meanwhile, on a month-on-month basis, the import of yellow metal during June 2023 went down by 4.33 percent against the imports of $3.421 million in May 2023.
It is pertinent to mention here that the overall trade deficit witnessed a decrease of 43.03 percent during the fiscal year 2022-23 against the last year.
The trade deficit during July-June (2022-23) was witnessed at $27.547 billion compared to the deficit of $48.354 billion in July-June (2021-22), with a decrease of 43.03 percent.
The exports during the period were recorded at $27.744 billion against $31.782 billion last year, showing a decline of 12.71 percent. Meanwhile, the imports recorded a sharp decrease of 31 percent falling from $80.136 billion last year to $55.291 billion during the fiscal year 2022-23.
