ISLAMABAD: The import of gold into the country increased by 86 per cent during July-August 2017-18 as compared to same period of previous year.
During the period under review 117 kilogram gold valuing US $4.498 million was imported while in same period of last year the import stood at 65 kg worth $2.428 million last year. On yearly and monthly basis the import of yellow metal in August 2017 also surged by 108.51 per cent and 14.6 per cent as compared to August 2016 and July 2017 respectively, latest data of Pakistan Bureau of Statistics said.
According to the data, import of gold in August 2017 went up to $2.402 million from $1.152 million in August 2016 and $2.096 million in July 2016.
In addition, the overall metal group import, also witnessed an increase of 47.76 per cent in July-August (2017-18) as it went up to $958.48 million from $648.675 million in first two months of the year 2016-17.
Iron and steel scrap import also surged by 130.76 per cent to $295.858 million in first two months of current fiscal year from $128.213 million in same period of preceding year. The import of iron and steel increased to $414.58 million in Jul-Aug (2017-18) from $321.041 million in same period of preceding fiscal year thus showing an increase of 29.14 per cent.
Similarly, aluminum wrought and work import also increased by 17.03 per cent from $30.234 million in the corresponding period last year to $35.383 million this year.
On year-on-year basis the overall metal group import in August increased by 38.39 per cent while on month-on-month basis the metal group imports also increased by 5.37 per cent. The import of iron and steel scrap rose to $153.008 million in August 2017 from $64.988 million in August 2016 and $142.85 million in July 2017.
