FY 16-17: gold import falls by 48.05% in 5 months

The import of gold into the country fell by 48.05 percent during the first five months of the current fiscal year (2016-17) as compared to the same period of the previous financial year.

During July-November (2016-17), 154 kilogrammes of the yellow metal worth of US $5.822 million was imported as compared to the import of 297 kg gold worth of $11.207 million during last fiscal year’s five months.

On the other hand, overall metal group imports increased by 4.42 percent to $1.606 billion in first five months of the current fiscal year from $1.538 billion in the same period of last year, according to latest data of Pakistan Bureau of Statistics (PBS).

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The import of iron and steel scrap had also witnessed a decrease of 14.04 percent from $395.265 million last year to $339.763 million during July-November of the year 2016-17.

Similarly, iron and steel import increased from $750.020 million last year to $814.521 million this year thus showing an increase of 8.6 percent.

Similarly, the import of aluminium wrought and work was increased by 2.33 percent to $73.024 million in July-November (2016-17) from $71.363 million during the same period of the preceding year.

On the year-on-year and month-on-month basis, the gold import in November 2016, decreased by 59.19 percent and 45.6 percent over November 2015, and October 2016, respectively.

The gold import in November 2016, was recorded at $822,000 while in November 2015, and October 2016, its import was recorded at $2.014 million and $1.511 million, respectively.

The import of overall metal group, however, increased by 7.11 percent and 14.05 percent as compared to the import of November 2015, and October 2016, respectively.


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