Islamabad, January 20, 2026 – Pakistan’s gold imports experienced a dramatic decline of 81% during the first half of the current fiscal year (July–December 2025), according to the latest data released by the Pakistan Bureau of Statistics (PBS). The country imported gold worth $3.73 million in this period, compared to $19.75 million during the same period of the previous fiscal year.
Analysts attribute the sharp drop primarily to a significant surge in gold prices in the domestic market. During the first six months of the fiscal year, 24-karat gold per tola recorded a 31% increase, rising from Rs356,800 on July 1, 2025, to Rs468,650 by December 31, 2025. The soaring prices have made gold imports costlier, reducing demand among traders and investors.
In addition to the price surge, stricter monitoring and enforcement by Customs authorities to curb gold smuggling also contributed to the steep decline. Market experts noted that the enhanced regulatory oversight and anti-smuggling measures discouraged illegal and unofficial gold inflows, further impacting overall import figures.
The decline in gold imports reflects a combination of market-driven factors and government enforcement policies. While the price hike poses challenges for importers, authorities believe the stricter regulations are crucial to preventing smuggling and maintaining economic stability. As gold continues to be a preferred investment in Pakistan, market watchers will closely monitor price trends and import activity in the coming months.
This trend marks one of the most significant drops in Pakistan’s gold import history and highlights the combined effect of market volatility and regulatory intervention.