Mobile phone imports increase 51.59pc to $1311mn in eight months

ISLAMABAD: The import of mobile phones into the country has witnessed an increase of 51.59 percent during the eight months of current financial year (2020-21) as compared to the corresponding period of last year.

Pakistan imported mobile phones worth US $1311.497 million during July-February (2020-21) as compared to the imports of US $865.180 million during July-February (2019-20), showing growth of 51.59 percent, according to the latest data issued by Pakistan Bureau of Statistics (PBS).

Meanwhile, on year-to-year basis, the import of mobile phones also rose by 68.11 percent during the month of February 2021 when compared to the same month of last year.

The import of mobiles into the country during February 2021 were recorded at $175.823 million against the exports of $104.590 million in February 2020.

On month-on-month basis, the imports of mobile phones however witnessed decrease of 10.68 percent during February 2021, as compared to the imports of US $196.855 million during January 2021, according to the data.

It is pertinent to mention here that the overall merchandize exports from the country increased by 4.29 percent during the first eight months of the current fiscal year (2020-21) as compared to the corresponding period of last year.

The exports of the country during July-February (2020-21) were recorded at $16.304 billion against the exports of $15.633 billion during July-February (2019-20), according to the latest PBS data.

The imports during the period under review also increased by 7.49 percent by growing from $31.483 billion last year to $33.840 billion during the first eight months of current fiscal year.

Based on the figures, the country s trade deficit increased by 10.64 percent during the first eight months as compared to the corresponding period of last year. The trade deficit during the period was recorded at $17.536 billion against the deficit of $15.850 billion last year.