ISLAMABAD: The import of gold into the country increased by 24.28pc during the first two months of the current fiscal year (FY20) as compared to the corresponding period of last year.
Pakistan imported gold worth $3.296 million during July-August 2019-20, as compared to the imports of $2.652 million during July-August 2018-19, according to data released by the Pakistan Bureau of Statistics (PBS).
In terms of quantity, gold imports increased by 9.86pc, as the country imported 78 kilogrammes of gold during the period under review when compared with the imports of 71kg during the same period last year.
Meanwhile, on a year-on-year basis, the gold imports into the country surged by 57.27pc, from $1.231 million in August 2018 to $1.936 million in August 2019.
In terms of quantity, the gold imports increased from 33kg in August 2018 to 46kg in August 2019, showing an increase of 39.39pc.
On a month-on-month basis, the gold imports in August 2019 increased by 42.35pc when compared to the imports of $1.360 million in July 2019.
In terms of quantity, the gold imports increased by 43.75pc in August 2019, as against the imports of 32kg gold in July 2019.
It is pertinent to mention that the trade deficit during the first two months of the current fiscal year dipped by 35.86pc as compared to the corresponding period of last year.
The trade deficit during July-August FY20 was recorded at $3.924 billion, as against the deficit of $6.118 million in July-August FY19.
During the period under review, the exports from the country increased by 2.79pc, from $3.651 million last year to $3.753 million. On the other hand, imports witnessed a decrease of 21.41pc, from $9.769 million to $7.677 million.
