Mobile phone imports increase 81.32% during FY 2020 , July 20, 2020

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Mobile phone imports increase 81.32% during FY 2020 , July 20, 2020

ISLAMABAD-The import of mobile phones into the country has witnessed an increase of 81.32 percent during the fiscal year (2019-20) as compared to the corresponding period of last year.

Pakistan imported mobile phones worth US $1369.947 million during July-June (2019-20) as compared to the imports of US $755.548 million during July-June (2018-19), showing growth of 81.32 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 300.62 percent in June 2020, as compared to the imports of the same month of last year.

The mobile imports during June 2020 were recorded at US $231.303 million against the imports of US $57.736 million in June 2019.

On month-on-month basis, the imports of mobile phones also increased by 108.27 percent during June 2020, as compared to the imports of US $111.059 million during May 2020, according to the data.

It is pertinent to mention here that the country’s trade deficit witnessed significant reduction during the fiscal year 2019-20 and declined by 27.12% as compared to the corresponding period of last year.

The exports witnessed decrease of 6.81% and reached to $21.394 billion against the exports of $22.958 billion of the same period of last year.

On the other hand, the country’s imports witnessed significant decrease of 18.61% and went down from $54.763 billion last fiscal year to $44.574 billion of same period of fiscal year 2019-20. Based on the figures, the trade deficit during the period under review was recorded at $23.180 billion against the deficit of $31.805 during last year, showing decline of 27.12 percent.