Import of mobile phones soars 63%

ISLAMABAD: The import of mobile phones in Pakistan has observed an increase of 63.17 percent during the eleven months of the fiscal year (2019-20).

According to the latest data issued by the Pakistan Bureau of Statistics (PBS), the country imported mobile phones worth $1138.641 million from July to May 2019-20 compared to the imports of $697.813 million from July to May 2018 to 2019, representing a growth of 63.17 percent.

On a Year-on-Year (YoY) basis, the import of mobile phones witnessed an increase of 68.76 percent in May 2020, compared to the imports of mobile phones in the same month in 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 percent 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 percent compared to the corresponding period of last year. 

The country’s exports witnessed a decrease of 6.85 percent and reached $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 percent 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 last year, showing a decline of 27.75 percent.