Mobile phone imports up 63.6pc to $498.4m

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Staff Reporter

Islamabad

The mobile phone imports into the country increased by 63.62 percent during the first five months of the current fiscal year compared to the corresponding period of last year. Pakistan imported mobile phones worth $498.466 million during July-November (2019-20) against the imports of $304.651 million in July-November (2018-19), showing growth of 63.63 percent, according to the data of Pakistan Bureau of Statistics (PBS).
The overall telecom imports into the country during the period under review increased by 25.07 percent during the period under review by going up from $545.920 last year to $682.762 million during the current fiscal year.
Meanwhile, on year-on-year basis, the imports of mobile phones into Pakistan increased by 150.29 percent during November 2019 when compared to the imports of the same month of last year.
The mobile phone imports during November were recorded at $110.725 million against the imports of $44.238 million during November 2018, the PBS data revealed.
On month-on-month basis, the mobile phone imports decreased by 6.68 percent in November 2019 when compared to the imports of $118.654 million in October 2019.
It is pertinent to mention here that the country’s overall merchandise trade deficit plunged by 33.04 percent during the first five months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.
The trade deficit during July-November (2019-20) was recorded at $ 9.668 billion against the deficit of $14.439 billion during July-November (2018-19), the data revealed. The exports during the period increased from $ 9.109 billion during last year to $ 9.545 billion during the current fiscal year, showing growth of 4.79 percent. On the other hand, the imports into the country witnessed decline of 18.41 percent by falling from $ 23.548 billion last year to $19.213 billion during the current fiscal year, the data revealed.