Mobile phone imports increase 19pc to $163.484 million

ISLAMABAD, Sep 23 (APP):The imports of mobile phones into the country increased by 19.40 percent during the first two month of current financial year (2019-20) as compared to the corresponding period of of last year.

Pakistan imported mobile phones worth $163.484 million during July-August (2019-20) as compared to the imports of $136.917 million during July-August (2018-19), showing growth of 19.40 percent, according to the latest data of Pakistan Bureau of Statistics (PBS).

On year-on year basis, the imports of mobile phones witnessed growth of 25.94 percent in August 2019, when compared to the imports of the same month of last year.

The mobile imports during August 2019 were recorded at $85.224 million against the imports of $67.669 million in August 2018.

On month-on-month basis, the imports of mobile phones also witnessed positive growth of 8.90 percent during August 2019, when compared to the imports of $78.260 million during July 2019, according to the data.

It is pertinent to mention here that the trade deficit during first two months of the current fiscal year dipped by 35.86 percent as compared to the corresponding period of last year. The trade deficit during July-August (2019-20) was recorded at $3.924 billion against the deficit of $6.118 million in July-August (2018-19), the data revealed.

During the period under review, the exports from the country increased by 2.79 percent, from $3.651 million last year to $3.753 million during the current year. On the other hand, the imports witnessed negative growth of 21.41 percent by falling from $9.769 million last year to $7.677 million this year.

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