Import of iron, steel jumps up 18% in 7 months

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—File Photo


ISLAMABAD, Apr 9 (NNI): Import of iron and steel increased by 18.1 per cent during first seven months (Jul-Feb) of fiscal year 2017-18 as compared to same period of last year.

The import of iron and steel rose to $1.56 billion in Jul-February (2017-18) from $1.3 billion in same period of preceding fiscal year, according to latest data released by Pakistan Bureau of Statistics (PBS).

Iron and steel scrap import also surged by 59.25 per cent as it rose to $1.03 billion in first seven months of current fiscal year from $650.13 million in July-February (2016-17).
Similarly, import of gold during first seven months of current fiscal year increased by 27.81 per cent as compared to same period of previous year.

During the period under review, 326 kilogram of the yellow metal valuing US $13.18 million was imported against import of 278 kg gold worth $10.31 million last year.

However, on yearly and monthly basis, the import of yellow metal in February 2018 plunged by 67.2 per cent and 72.2 per cent when compared to import during February 2017 and January 2018 respectively.

The import during February 2018 declined to $335,000 from $1.021 million in February 2017 and $1.2 million in January 2018.

Similarly, the overall metal group import also increased by 27.43 per cent in July-February (2017-18) to $3.45 billion from $2.7 billion in same period of previous year.

Aluminum wrought and work import also increased by 23.4 per cent from $121.18 million in July-February 2016-17 to $149.5 million.

On year-on-year basis, the overall metal group import in February rose by 14.33 per cent while on month-on-month basis the import went down by 15.6 per cent in February 2018 as compared to that of February 2017.

The import of overall metal group was recorded $407.8 million in February 2018 while it was recorded $356.68 million and $483.14 million in February 2017 and January 2018 respectively.—NNI

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