Business

ISLAMABAD – The import of gold into the country fell by 42.75 percent during July-February 2016-17 as compared to same period of previous year.


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During the period under review, 276 kilogrammes gold valuing US$10.312 million was imported while in the same period of last year the import stood at 487 kg worth $18.012 million last year.

On the yearly and monthly basis the import of yellow metal in February 2017 also fell sharply by 53.50 percent and 26.21 percent as compared to February 2016 and January 2017, pointed out latest data of Pakistan Bureau of Statistics.

According to the data, import of gold in February 2017 went down to $1.022 million from $2.198 million in February 2016 and $1.385 million in January 2016. The overall metal group import, however, witnessed an increase of 4.25 percent in July-February (2016-17) as it went up to $2.713 billion from $$2.593 billion in first eight months of the year 2015- 16.

Iron and steel scrap import decreased by 5.11 percent to $660.137 million in first eight months of the current fiscal year from $685.143 million in the same period of preceding year. The import of iron and steel, however, increased to $1.322 billion in Jul-Feb (2016-17) from $1.125 billion in the same period of the preceding fiscal year thus showing an increase of 5.64 percent. Aluminium wrought and work import, on the other hand, decreased by 0.11 percent from $121. 311 million in the corresponding period last year to $121.175 million this year.

On a year-on-year basis, the overall metal group import in February increased by 7.07 percent while on a month-on-month basis the metal group imports decreased by 10.09 percent.

Similarly, the import of iron and steel scrap also increased to $96.142 million in February 2017 from $87.31 million in February 2016 thus showing an increase of 10.12 percent while on monthly basis the iron and steel scrap import decreased by 14.41 per cent as the import in January 2017 was recorded at $112.327 million.-APP