Mobile phone imports surge 79pc in seven months

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ISLAMABAD: The import of mobile phones into the country has increased by 79.46 per cent during the first seven months of the current financial year (2019-20) as compared to the corresponding period of last year.

Pakistan imported mobile phones worth $760.582 million during July-January (FY20) as compared to the import of $423.818 million during July-January (FY19), showing a growth of 79.46pc, according to the latest data issued by the Pakistan Bureau of Statistics (PBS).

On year-on year basis, the import of mobile phones witnessed a growth of 141.65pc in January 2020, as compared to the import of the same month of last year.

The mobile phone imports during January 2020 were recorded at $144.437 million against the import of US$ 59.771 million in January 2019.

On month-on-month basis, the import of cell phones also grew by 22.73pc during January 2020, as compared to the import of $117.682 million during December 2019, the data further says.

The country’s merchandise trade deficit plunged by 28.40pc during the first seven months of the current fiscal year (FY20) as compared to the deficit of the same month of last year.

During the period under review, the country’s exports registered about 2.14pc growth, whereas imports reduced by 15.95pc, according the foreign trade statistics released by PBS.

During the period from July-January (2019-20), the exports reached to $13.498 billion against the export of $13.216 billion of the same period of last year, it added.

Meanwhile, the country’s imports witnessed significant decrease of 15.95pc as those went down from $32.420 billion in the first seven months of last financial year to $27.249 billion of the same period of current financial year.

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