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Gold imports into Pakistan surge by 59% in July 2017

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ISLAMABAD, Pakistan: Pakistan imported gold worth $2.096 million in July 2017, witnessing 59.11 percent increase as compared to the same month a year ago, , according to trade data of Pakistan Bureau of Statistics (PBS).

In July last year, gold worth $1.267 million imported into Pakistan while in July 2017, the Country imported gold worth U$2.096 million, the data revealed.

The date revealed that in terms of quantity, Pakistan imported 55 kilograms of gold in July 2017 against the imports of 35 kilograms, showing an increase of 57.14 percent.

On month-on-month basis, the gold imports into Pakistan increased by 177.98 percent in July when compared to the imports of US$0.754 million recorded during June 2017, the data revealed.

During June 2017, Pakistan imported just 19 kilograms of gold, showing a decline of 189 percent in imports of the commodity compared to the imports of July 2017.

It is pertinent to mention here that overall merchandise imports into Pakistan increased by 24.85 percent by going up from $7.839 during the first two months of last fiscal year to $9.787 billion during the current year.

The exports from Pakistan witnessed positive trend for the second consecutive month and grew by 11.80 percent as the exports from the Country during July-August (2017-18) were recorded at $3.497 billion against the exports of $3.128 billion during July-August (2016-17).

Based on the figures, the trade deficit during the first two months of the current fiscal year was recorded at $6.290 billion which indicated an increase of 33.52 percent when compared to the deficit of $4.711 billion during the same period of last year.

Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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