Mobile phone imports increase 87.37pc during July-August 2020

ISLAMABAD: The import of mobile phones into the country has witnessed an increase of 87.37 percent during the first two months of ongoing financial year (2020-21) as compared to the corresponding period of last year.

Pakistan imported mobile phones worth US $306.383 million during July-August (2020-21) as compared to the imports of US $163.519 million during July-August (2020-21), showing growth of 87.37 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 85.84 percent in August 2020, as compared to the imports of the same month of last year.

The mobile imports during August 2020 were recorded at US $158.384 million against the imports of US $85.224 million in August 2019.

On month-on-month basis, the imports of mobile phones also increased by 7.02 percent during August 2020, as compared to the imports of US $147.999 million during July 2020, according to the data.

It is pertinent to mention here that the country trade deficit witnessed reduction of 8.32 percent during the first two months current fiscal year (2020-21) as compared to the deficit of the corresponding period of last year.

The deficit during July-August (2020-21) was recorded at $3.382 billion against the deficit of $3.689 billion, the data revealed.

During the period under review, the country’s exports registered negative growth of 4.27 percent, by going down from $3.744 billion last year to $3.584 billion during the current year.

On the other hand, the imports witnessed decreased of 6.28 percent, from $7.433 billion last year to $6.966 billion this year.