Mobile phone import increases over 79 percent in 7 months
ISLAMABAD: Import of mobile phones into the country increased by 79.46 percent during the first seven months of current financial year (2019-20) as compared to the corresponding period of last year.
Pakistan imported mobile phones worth US $ 760.582 million during July-January (2019-20) as compared to the imports of US $ 423.818 million during July-January (2018-19), showing growth of 79.46 percent, according to the latest data issued by Pakistan Bureau of Statistics (PBS).
On year-on year basis, the import of mobile phones witnessed growth of 141.65 percent in January 2020, as compared to the imports of the same month of last year. The mobile imports during January 2020 were recorded at US $ 144.437 million against the imports of US $ 59.771 million in January 2019.
On month-on-month basis, the imports of mobile phones also grew by 22.73 percent during January 2020, as compared to the imports of US $ 117.682 million during December 2019, according to the data.
It is pertinent to mention here that the country’s merchandise trade deficit plunged by 28.40 percent during the first seven months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.
During the period under review, the country’s exports registered about 2.14 per cent growth, whereas imports reduced by 15.95 per cent, according the foreign trade statistics, released by the Pakistan Bureau of Statistics (PBS).
During the period from July-January (2019-20), exports reached $13.498 billion against the exports of $13.216 billion of the same period of last year, it added.
Meanwhile, the country’s imports witnessed significant decrease of 15.95 % as these went down from $32.420 billion in first seven months of last financial year to $27.249 billion of same period of current financial year, it said. – APP