ISLAMABAD: The imports of mobile phones into the country increased by 48.88 percent during the first four months of current financial year (2019-20) as compared to the corresponding period of last year.
Pakistan imported mobile phones worth $387.705 million during July-October (2019-20) as compared to the imports of $260.413 million during July-October (2018-19), showing growth of 48.88 percent, according to the latest data issued by Pakistan Bureau of Statistics (PBS).
On year-on year basis, the imports of mobile phones witnessed growth of 93.91 percent in October 2019, as compared to the imports of the same month of last year.
The mobile imports during October 2019 were recorded at $118.654 million against the imports of $61.189 million in October 2018.On month-on-month basis, the imports of mobile phones also witnessed positive growth of 12.40 percent during October 2019, as compared to the imports of $105.567 million during September 2019, according to the data.
It is pertinent to mention here that the country's merchandise trade deficit plunged by 33.52 percent during the first four months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.
The trade deficit during July-October (2019-20) was recorded at $7.776 billion against the deficit of $11.696 billion during July-October (2018-19), the data revealed.
The exports during the period increased from $7.270 billion during last year to $7.547 billion during the current fiscal year, showing growth of 3.81 percent.
On the other hand, the imports into the country witnessed decline of 19.21 percent by falling from $18.966 billion last year to $15.323 billion during the current fiscal year, the data revealed.