Pakistan’s Gold Imports Fall 43.48% in 11 Months

The gold imports during the first 11 months of the outgoing fiscal year 2013-14 plunged by 43.48 percent as against the same period of last year. According to data revealed by Pakistan Bureau of Statistics (PBS), during the period under review, 4,177 kilogram of yellow metal worth of US$ 172.950 million was imported as compared to the import of 5,740 kg valuing $306.005 million during July-May 2012-13.

The overall imports of metal group, registered a decrease of 9.26 percent during the first 11 months of the year 2013-14 against the same period of last year.

The metal group imports in to the country during the period under review were recorded at $2.7438 billion against imports of $3.024 billion during same period of last year.

Similarly, imports of iron and steel scrap registered increase of 11.43 percent during July-May (2013-14) as compared to the imports during July-May (2012-13).Iron and steel scrap imports into the country were recorded at $669.551 million during the first 11 months of current fiscal year against the imports of $600.847 million during same period of last year. The imports of iron and steel, however decreased by 13.62 percent by going down from $1.44688 billion during July-May (2012-13) to $1.25 billion this year whereas the imports of aluminium wrought and worked increased by 2.46 percent by going up from $112.921 million to $115.7 million .

The imports of all other metal and articles were recorded at $535.778 million during the period under review against the imports of $557.284 million during same period of last year posting a negative growth of 3.86 percent.

via Kitco

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza