Import of gold slumps by 32 percent

Pakistan's import of gold scaled back by 32 percent to $16.670 million last fiscal year (FY), official figures said. Fall in gold import now stands at $7.765 million in fiscal year (FY) 2017 as compared to the precious metal's import of $24.435 million in FY 2016, Pakistan Bureau of Statistics showed. Import quantity of Gold also reduced to 440 kilograms in FY 2017 from 659 kilograms in FY 2016, down by 31.46 percent or 219 kilograms. In June 2017, Gold import slumped by 55 percent or $921000 to 754000 from $1.675 million in June 2016.
Gold import quantity also fell by 59 percent or 27 kilograms to 19 kilograms in June 2017 from 46 kilograms in June 2016.