Mobile phone imports surge 63pc in 11 months

On an YoY basis, the import of mobile phones witnessed an increase of 68.76pc in May 2020, compared mobile phone imports in May 2019.

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ISLAMABAD: The import of mobile phones into the country has witnessed an increase of 63.17 per cent during the eleven months of fiscal year (2019-20), compared to the corresponding period of last year. 

Pakistan imported mobile phones worth $1138.641 million during July to May 2019-20 compared to the imports of $697.813 million during July to May 2018-19, depicting a growth of 63.17 per cent, according to the latest data issued by Pakistan Bureau of Statistics (PBS).

On an Year-on Year (YoY) basis, the import of mobile phones witnessed an increase of 68.76 per cent in May 2020, compared to the imports of mobile phones in May 2019.

Mobile phone imports during May 2020 were recorded at $111.059 million compared to the imports of $65.810 million in May 2019.

On a month-on-month basis, imports of mobile phones also increased by 133.22 per cent during May 2020, as compared to the imports of $47.619 million during April 2020, according to the data.

Pakistan’s trade deficit has witnessed a significant reduction during the eleven months of the current fiscal year and declined by 27.75 per cent compared to the corresponding period of last year. 

The country’s exports witnessed a decrease of 6.85 per cent and reached to $19.801 billion compared to the exports of $21.256 billion in the same period of last year.

On the other hand, the country’s imports witnessed a significant decrease of 18.93 per cent and went down from $50.410 billion in 2018-19 to $40.866 billion in the same period of the current fiscal 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 a decline of 27.75 per cent.

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