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Gold import increases by 380.47pc in Q1

Gold import increases by 380.47pc in Q1

ISLAMABAD: Gold import into the country has soared up to 380.47 per cent during the first quarter of the current fiscal year as compared to the same period of last year, according to Pakistan Bureau of Statistics (PBS).

The data reveal that 3,286kg gold was imported during July-September 2013-14 against 542kg during the same period of last year. The country imported gold worth $136.521 million in the first quarter against $2.684 million for the same period in fiscal year 2012-13.

The country imported construction machinery of $101.95 million during July-September 2013 period against $44.940 million for July-September 2012 with an increase of 126.87 per cent. Import of electrical machinery and apparatus also witnessed an increase of 70.32 per cent following import of $294.233 million in the three months of current fiscal year against $172.805 million for the same period of last year.

Food group imports have decreased by 11.91 per cent during the first quarter of current fiscal year as compared to the same period of last year subsequent to 38.81 decline in import of pulses, 28.89 per cent in milk cream and milk food for infants, 29.40 per cent decrease in soya bean oil and 21.26 per cent in palm oil imports. Import of spices decreased by 17.67 per cent and tea 4.19 per cent.

Transport group imports also witnessed a decrease of 42.78 per cent during the period subsequent to 27.70 per cent decline in road motors vehicles (built units CKD/SKD), 45.56 per cent decrease in Completely Built Units (CBU), 13.77 per cent decrease in import of buses trucks and heavy vehicles, and 55.51 per cent in motor cars. However, import of motorcycles increased by 681.71 per cent during the first quarter of the current fiscal year as compared to the same period of last year.

Among other sectors, imports of petroleum group decreased by 0.62 per cent, textile group 1.45 per cent agriculture and other chemical group by 2.64 per cent.

A marginal increase of 2.77 per cent was noted in import of textile machinery and 5.97 per cent mobile phone while import of power generation machinery declined by 29.17 per cent and agricultural machinery and implements by 64.32 per cent during the period under review.