ISLAMABAD: Pakistan’s gold imports dropped by 47.79 per cent during the first 11 months of fiscal year 2025-26 compared with the same period last year, according to figures released by the Pakistan Bureau of Statistics (PBS).
Between July and May of FY2025-26, the country imported gold worth $16.09 million, compared with $30.82 million during the corresponding period of FY2024-25.
In terms of volume, Pakistan imported 306 kilograms of gold during the period under review, down from 391 kilograms imported in the same months of the previous fiscal year, reflecting a decline of 21.65 per cent.
Despite the overall fall, gold imports recorded strong growth in May 2026 compared with the same month last year. Imports rose by 228.38 per cent to $3.04 million, up from $927,000 in May 2025.
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The quantity of imported gold also increased significantly, reaching 20 kilograms in May 2026 compared with 9 kilograms in May 2025, an increase of 125.93 per cent.
On a month-on-month basis, gold imports climbed by 28.33 per cent, increasing from $2.37 million in April 2026 to $3.04 million in May 2026.
Similarly, import volume rose by 35.56 per cent, with gold imports increasing from 15 kilograms in April to 20 kilograms in May.
Meanwhile, gold prices continued to decline in the international market for the second straight session on Wednesday, falling to their lowest level in nearly two weeks. A stronger U.S. dollar and expectations of higher interest rates weighed on the precious metal, while investors also remained focused on developments surrounding the U.S.-Iran peace talks.
Spot gold fell 1.4 per cent to $4,049.44 an ounce by 1110 GMT after touching its lowest level since June 11.
“The strong U.S. dollar continues to be a headwind for gold, with lackluster investment demand as gauged by ETF holdings, not helping,” said UBS analyst Giovanni Staunovo.
The U.S. dollar extended its rally to a 13-month high, making gold more expensive for buyers using other currencies.