Gold import soars: 380.47 percent in first quarter of current fiscal

Gold
Gold

October 24, 2013

ZAHEER ABBASI

Gold import has witnessed an unprecedented increase of 380.47 percent during the first quarter of the current fiscal year compared to the same period of last year, according to Pakistan Bureau of Statistics (PBS). Provisional trade figures reveal that gold import of 3,286 kilograms during July-September 2013-14 against 542 kilograms for the same period of last year, showing a massive increase.

The country imported gold worth $136.521 million in the first quarter against $2.684 million for the same period a year ago. The country imported construction machinery of $101.95 million during July-September 2013 period against $44.940 million for July-September 2012, showing an increase of 126.87 percent. Import of electrical machinery and apparatus also witnessed an increase of 70.32 percent 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 percent 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 percent in milk cream and milk food for infants, 29.40 percent decrease in soya bean oil and 21.26 percent in palm oil imports. Import of spices decreased by 17.67 percent and tea 4.19 percent.

Transport group imports also witnessed a decrease of 42.78 percent during the period subsequent to 27.70 percent decline in road motors vehicles (built units CKD/SKD), 45.56 percent decrease in Completely Built Units (CBU), 13.77 percent decrease in import of buses trucks and heavy vehicles, and 55.51 percent in motor cars. However, import of motorcycles increased by 681.71 percent 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 percent, textile group 1.45 percent agriculture and other chemical group by 2.64 percent. A marginal increase of 2.77 percent was noted in import of textile machinery and 5.97 percent mobile phone while import of power generation machinery declined by 29.17 percent and agricultural machinery and implements by 64.32 percent during the period under review. Courtesy Business Recorder

Agriculture in Pakistan,

Published in ZaraiMedia.com

Agriculture in Pakistan,

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