The import of gold has witnessed a steep fall and so the foreign exchange earned through the exports of jewellery.
According to figures of Federal Bureau of Statistics (FBS), jewellery exports plunged to $2.45 million during the first quarter (July-Sept) of this fiscal year as compared to $112m in the same period last year. Export in 2013-14 declined to $324m from $1.177 billion in 2012-13.
While, through legal channel only 93 kilogram of gold arrived in the country during the quarter under review as compared to 3,345kg in the same quarter last year. Import in 2013-14 fell to 4,222kg from 6,624kg in 2012-13.
