Tech

Mobile phones imports up by 63.62% during first five months

Atif Abbas

Islamabad: The import of mobile phones jumped up by 63.62 per cent during the first five months of first five months of ongoing financial year 2019-20 compared to the same period last year.

The import of mobile phones has witnessed increased despite higher duties.

According to data released by Pakistan Bureau of Statistics, mobile phones amounting to US $ 498.466 million were imported during July-November of current financial year against the imports of US $ 304.651 million registered during July-November of last financial year 2018-19, witnessing a 63.62 percent growth.

On year-on year basis, the import of mobile phones recorded growth of 150.29 percent in November 2019 this year against the imports of mobile phones in the corresponding month of last year. Meanwhile, merchandise trade deficit leaped by 33.04 percent during the first five months of the current fiscal year against the deficit during the same month last year.

Pakistan’s exports increased to US $ 9.545 billion during the period compared to US $ 9.109 billion during last year registering 4.79 percent growth. However, Pakistan’s imports showed decline of 18.41 percent from US $ 23.548 billion last year to US $19.213 billion during the current fiscal year.

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