Mobile phone imports increase 89.03pc during July 2020

ISLAMABAD: The import of mobile phones has witnessed an increase of 89.03 percent during the first month of current financial year (2020-21) as compared to the corresponding period of last year.

Pakistan imported mobile phones worth US $148.001 million during July 2020 as compared to the imports of US $78.295 million during July 2019, showing growth of 89.03 percent, according to the latest data issued by Pakistan Bureau of Statistics (PBS).

On month-on-month basis, the imports of mobile phones however witnessed decrease of 36.01 percent during July 2020, as compared to the imports of US $231.302 million during June 2020, according to the data.

It is pertinent to mention here that the trade deficit during the first month of the current fiscal year dipped by 7.72 percent as compared to the corresponding period of last year.

The trade deficit during July 2020 was recorded at $1.686 billion against the deficit of $1.827 million in July 2019, the data revealed.

During the month under review, the exports from the country increased by 6.10 percent, from $1.886 billion last year to $2.001 billion during the current year.

On the other hand, the imports witnessed decline of 0.70 percent by falling from $3.713 billion last year to $3.687 billion this year.