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Gold imports decline by 43.48% in July-May 2014


ISLAMABAD: The gold imports during July to May 2014 of the outgoing fiscal 2013-14 plunged by 43.48 percent as against the same period of last year.
According to data by Pakistan Bureau of Statistics (PBS), during the period under review, 4,177 kilogramme (kg) of yellow metal worth $172.950 million was imported as compared to the import of 5,740 kg valuing $306.005 million during July-May 2012-13.
On month on month basis the gold imports in May 2014 registered a decrease of 100 percent when compared to the imports in May 2013 and April 2014 as no gold was imported during the month due to the ban on import of gold imposed by the government.
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 aluminum 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.
Similarly the overall metal group imports in May 2014 decreased by 16.76 percent and increased by 14.01 percent when compared to the imports during May 2013 and April 2014 respectively.
The imports of the metal group in to the country decreased from $352.298 million in May 2013 and increased from $257.199 million in April 2014 to $293.241 million in May 2014.
Similarly the imports of iron and steel scrap in May 2014 increased by 44.15 percent and 16.88 percent when compared to the imports of May 2013 and April 2014 respectively. 
The imports of iron and steel in May 2014 decreased by 13.03 percent and increased by 11.29 percent when compared to that of May 2013 and April 2014 respectively. 

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