Business

Mobile phone imports increase 63.40%

Written by The Frontier Post

F.P. Report

ISLAMABAD: The import of mobile phones into the country has witnessed an increase of 63.40 percent during the first eleven months of current financial year (2020-21) as compared to the corresponding period of last year.
Pakistan imported mobile phones worth US $1860.490 million during July-May (2020-21) as compared to the imports of US $1138.641 million during July-May (2019-20), showing growth of 63.40 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 58.03 percent during the month of May 2021 when compared to the same month of last year.
The import of mobiles into the country during May 2021 was recorded at $175.501 million against the exports of $111.056 million in May 2020.
On month-on-month basis, the imports of mobile phones also increased by 17.79 percent during May 2021, as compared to the imports of US $148.992 million during April 2021, according to the data.
It is pertinent to mention here that the overall merchandize exports from the country increased by 14.05 percent during the first eleven months of the current fiscal year (2020-21) as compared to the corresponding period of last year.
The exports of the country during July-May (2020-21) were recorded at $22.576 billion against the exports of $19.795 billion during July-May (2019-20), according to the latest PBS data.
The imports during the period under review also increased by 22.50 percent by growing from $40.849 billion last year to $50.039 billion during the first eleven months of current fiscal year.
Based on the figures, the country trade deficit increased by 30.44 percent during the period under review as compared to the corresponding period of last year.
The trade deficit during the period was recorded at $27.463 billion against the deficit of $21.054 billion last year.

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