In the first two months of the current fiscal year compared to the same period last year, gold imports increased by 44.13 percent.
Pakistan imported gold for $4.971 million in July–August (2023-23) as opposed to $3.449 million in July–August (2022-23), according to statistics from the Pakistan Bureau of Statistics (PBS). This represents a gain of 44.13 percent.
From 65 kilograms the previous year to 102 kilograms this year, the quantity of gold imports climbed by 56.33 percent over the period under review.
In contrast, on an annual basis, gold imports in August 2023 climbed by 23.02 percent to $2.985 million from $2.426 million in August 2022.
Pakistan imported 52 kilos of gold in the month under review, up from the 49 kilograms it imported in August of previous year, a 6.12 percent increase in weight.
When compared to the $1.986 million in imports in July 2023, the gold imports in August 2023 jumped by 50.30% month over month.
When compared to the imports of 50 kilogram during July 2023, the quantity of gold imports rose by 4%.
It is important to note that, compared to the same period last year, the trade deficit decreased by 40.29 percent in the first two months of the current fiscal year.
The trade deficit for July–August 2023–2024 was $3.763 billion as opposed to the $6.302 billion deficit for July–August 2022–2023; this is a negative increase of 40.29 percent.
When compared to the exports of $4.733 billion during the same period last year, they fell by 6.38 percent to $4.431 billion during the review period.
In contrast, imports decreased by 25.75 percent, from $11.035 billion last year to $8.194 billion this year, according to PBS statistics.
