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No gold imports in last two months

No gold imports in last two months

ISLAMABAD: Pakistan did not import gold during the first two months of the current fiscal year (2020-21), according to latest data of Pakistan Bureau of Statistics (PBS).

Last year, during July-August, Pakistan had imported 86 kilograms of gold worth $3.294 million, hence showing 100 percent decrease in imports during the current year.

Overall, the metal group imports during the first two months of the current year declined by 1.98 percent by falling from imports of 685.642 million last year to $672.043 million during the current financial year.

It is pertinent to mention here that the country’s trade deficit witnessed reduction of 8.32 percent during the first two months of current fiscal year as compared to the deficit of the corresponding period of last year.

The deficit during July-August (2020-21) was recorded at $3.382 billion as compared to the deficit of $3.689 billion, showing decline of 8.32 percent.

During the period under review, the country’s exports registered negative growth of 4.27 percent, by going down from $3.744 billion last year to $3.584 billion during the current year.

On the other hand, the imports decreased by 6.28 percent, from $7.433 billion last year to $6.966 billion during the current year.