LAHORE MIRROR — The imports of gold increased by 94.25 percent during the first month of the current fiscal year (July 2023) as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported.
The gold imports during the July 2023 were recorded at $1.986 million as compared to the imports of $1.022 million during July 2022, according to PBS data.
In terms of quantity, Pakistan imported 50 kilograms of gold during the month under review as compared to the imports of 16 kilograms last year, showing growth of 207.79 percent.
Meanwhile, on month-on-month basis, the gold imports during July 2023 decreased by 39.32 percent when compared to the imports of $3.273 million in June 2023.
In terms of quantity, the gold imports declined by 40.48 percent when compared to the imports of 52 kilogram during June 2023.
It is pertinent to mention here that the trade deficit witnessed a decline of 41.16 percent during the first month of the current fiscal year (2023-24) as compared to the corresponding month of last year.
The trade deficit during the month under review was recorded at $1.607 billion against the deficit of $2.731 billion in July 2022, a decline of 41.16 percent. The exports during the month were recorded at $2.057 billion against $2.250 billion last year, showing a decline of 8.57 percent.
On the other hand, the imports witnessed a sharp decline of 26.44 percent by falling from $4.981 billion last year to $3.664 billion during July 2023.
