Staff Reporter
Islamabad
The import of mobile phones into the country has witnessed an increase of 63.17 percent during the eleven months of financial year (2019-20) as compared to the corresponding period of last year.
Pakistan imported mobile phones worth US $1138.641 million during July-May (2019-20) as compared to the imports of US $697.813 million during July-May (2018-19), showing growth of 63.17 percent, according to the latest data issued by Pakistan Bureau of Statistics (PBS).
On year-on year basis, the import of mobile phones witnessed increased of 68.76 percent in May 2020, as compared to the imports of the same month of last year.
The mobile phones imports during May 2020 were recorded at US $111.059 million against the imports of US $65.810 million in May 2019.
On month-on-month basis, the imports of mobile phones also increased by 133.22 percent during May 2020, as compared to the imports of US $47.619 million during April 2020, according to the data.
It is pertinent to mention here that the country’s trade deficit witnessed significant reduction in eleven months of current financial year and declined by 27.75% as compared to the corresponding period of last year.
The exports witnessed decrease of 6.85% and reached to $19.801 billion against the exports of $21.256 billion of the same period of last year.
On the other hand, the country’s imports witnessed significant decrease of 18.93% and went down from $50.410 billion last financial year to $40.866 billion of same period of current financial year.
Based on the figures, the trade deficit during the period under review was recorded at $21.065 billion against the deficit of $29.154 during last year, showing decline of 27.75 percent.
