ISLAMABAD: Increasing global prices have caused a significant drop in gold imports in Pakistan, as reported on Sunday, citing official documents.

According to the data, gold imports in Pakistan have dropped by 41.64% on an annual basis. In August, local importers brought in just 22 kilograms of gold, amounting to an import bill of $1.742 million.

This is a significant reduction compared to August of the previous fiscal year, when 47 kilograms of gold were imported at a cost of $2.985 million.

Month-over-month, gold imports also saw a decline. In July, 32 kilograms of gold were imported, with an import bill exceeding $2.196 million, meaning imports in August were 10 kilograms less.

Overall, in the first two months of the current fiscal year, gold imports fell by 20.78%, with a total of 54 kilograms imported in July and August, compared to 77 kilograms during the same period last year. The total import bill for these two months stood at $3.938 million.

[embedpost slug=”/todays-currency-rates-in-pakistan-september-22-2024/”]