pakistan gold imports decrease by 6.02% to $13.5m in first half of current FY
Published on: January 24, 2024.
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Pakistan’s gold imports experienced a decrease of 6.02% in the first half of the current financial year, according to data released by the Pakistan Bureau of Statistics (PBS). The imports were valued at $13.562 million during the period of July-December 2023-24, compared to $14.431 million in the same period of the previous year.
In terms of quantity, Pakistan imported 240kg of gold during the reviewed period, showing a slight increase of 0.54% compared to the previous year’s imports of 239kg.
In December 2023, the gold imports witnessed a significant decline of 76.06% when compared to the corresponding month of the previous year. The imports for December 2023 were valued at $0.780 million, while they were $3.259 million in December 2022.
The quantity of gold imported in December 2023 also decreased by 75% to twelve kilograms, in contrast to forty-eight kilograms imported in December 2022.
On a month-on-month basis, the gold imports in December 2023 experienced a steep drop of 79.99% compared to the imports of $3.899 million in November 2023.
Similarly, the quantity of gold imported in December 2023 declined by 80% when compared to the imports of 60kg in November 2023.
Despite these fluctuations, the gold market in Pakistan remains an essential part of the country’s economy. Gold traders and investors closely monitor these statistics to make informed decisions in the market.
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