ISLAMABAD – The import of mobile phones into the country increased by 63.62percent during the first five months of current financial year (2019-20) ascompared to the corresponding period of last year.
Pakistan imported mobile phones worth US $ 498.466 million duringJuly-November (2019-20) as compared to the imports of US $ 304.651 millionduring July-November (2018-19), showing growth of 63.62 percent, accordingto the latest data issued by Pakistan Bureau of Statistics (PBS).
On year-on year basis, the import of mobile phones witnessed growth of150.29 percent in November 2019, as compared to the imports of the samemonth of last year.
The mobile imports during November 2019 were recorded at US $ 110.725million against the imports of US $ 44.238 million in November 2018.
On month-on-month basis, the imports of mobile phones however witnesseddeclined of 6.68 percent during November 2019, as compared to the importsof US $ 118.654 million during October 2019, according to the data.
It is pertinent to mention here that the country’s merchandise tradedeficit plunged by 33.04 percent during the first five months of thecurrent fiscal year (2019-20) as compared to the deficit of the same monthof last year.
Read Top Stories
The trade deficit during July-November (2019-20) was recorded at US $ 9.668billion against the deficit of US $14.439 billion during July-November(2018-19), the data revealed.
The exports during the period increased from US $ 9.109 billion during lastyear toUS $ 9.545 billion during the current fiscal year, showing growth of 4.79percent.
On the other hand, the imports into the country witnessed decline of 18.41percent by falling from US $ 23.548 billion last year to US $19.213 billionduring the current fiscal year, the data revealed.
