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Mobile phone imports increase 83.17pc in Q1

Mobile phone imports increase 83.17pc in Q1

ISLAMABAD: The import of mobile phones into the country has witnessed an increase of 83.17 percent during the first quarter (Q1) of financial year (2020-21) as compared to the corresponding period of last year.

Pakistan imported mobile phones worth US $492.894 million during July-September (2020-21) as compared to the imports of US $269.087 million during July-September (2019-20), showing growth of 83.17 percent, according to the latest data issued by Pakistan Bureau of Statistics (PBS).

Meanwhile, on year-on year basis, the import of mobile phones witnessed grew of 76.69 percent in September 2020, as compared to the imports of the same month of last year.

The mobile imports during September 2020 were recorded at US $186.531 million against the imports of US $105.568 million in September 2019.

On month-on-month basis, the imports of mobile phones also rose by 17.79 percent during September 2020, as compared to the imports of US $158.364 million during August 2020, according to the data.

It is pertinent to mention here that the overall merchandize trade deficit increased by 2.02 percent during the first quarter of current fiscal year (2020-21) as compared to the deficit of the corresponding period of last year.

The deficit during July-September (2020-21) was recorded at $5.804 billion as compared to the deficit of $5.689 billion, showing increase 2.02 percent.

During the period under review, the country’s exports registered negative growth of 0.94 percent, by going down from $5.510 billion last year to $5.458 billion during the current year.

On the other hand, the imports decreased by 0.56 percent, from $11.199 billion last year to $11.262 billion during the current year.