Islamabad, April 28, 2025 – Pakistan’s gold imports have witnessed a substantial increase during the first nine months (July–March) of the fiscal year 2024-25.
According to the latest data released by the Pakistan Bureau of Statistics (PBS), the country imported approximately 368 kilograms of gold, marking a significant rise of 41% compared to the 262 kilograms imported during the same period of the previous fiscal year.
In monetary terms, Pakistan spent $28.37 million on gold imports during the nine-month period under review, a sharp increase of 66.60% from $17.03 million spent in the corresponding months of fiscal year 2023-24. This notable surge in gold import expenditure comes despite the backdrop of rising gold prices in international markets.
The increase in global gold prices has been attributed primarily to recent geopolitical and economic developments. A major factor was the imposition of reciprocal tariffs by the United States, which triggered countermeasures from major economies, particularly China. These retaliatory economic policies led to heightened uncertainty across global financial and commodity markets, causing investors to seek refuge in safe-haven assets like gold. As a result, bullion prices have soared rapidly in recent months, impacting gold markets worldwide, including in Pakistan.
Despite the higher international prices, Pakistan’s appetite for gold remains strong. Industry experts suggest that local demand has been fueled by traditional preferences for gold as a store of value amid inflationary pressures and currency fluctuations. Moreover, continued volatility in global markets has kept the price of gold unpredictable, with analysts warning of further fluctuations in the months ahead.
In Pakistan, gold holds a unique cultural and economic significance. It is not only regarded as a symbol of wealth and status but also as a key investment instrument, particularly during times of economic uncertainty. The ongoing global trends have reinforced gold’s importance within Pakistan’s economic landscape.
Looking forward, experts anticipate that unless international tensions ease and commodity markets stabilize, Pakistan’s gold imports may continue to rise, further impacting the country’s foreign exchange reserves.