Mobile Phones Import increased by 63.62% During First Five Months of FY 2019-20
On year-on year basis, the import of mobile phones witnessed growth of 150.29 percent in November 2019, as compared to the imports of the same month of last year. The mobile imports during November 2019 were recorded at US $ 110.725 million against the imports of US $ 44.238 million in November 2018. On month-on-month basis, the imports of mobile phones however witnessed declined of 6.68 percent during November 2019, as compared to the imports of US $ 118.654 million during October 2019, according to the data. The country’s merchandise trade deficit plunged by 33.04 percent during the first five months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year. Overall telecom imports saw an increase of 25.07 percent during July-November 2019 when compared to the same period of last year. Total imports were recorded at $682.762 million during this period when compared to $545.920 million in July-November 2018, while registering a 7.96 percent negative growth in November 2019. This figure stood at $147.650 million in November as compared to $160.424 million during October 2019. Other telecom apparatus imports witnessed a phenomenal decline of over 23.61 percent in July-November 2019 as it stood at $184.296 million against $241.269 million during the same period of last year. When compared to October 2019, other telecom apparatus imports registered 11.60 percent negative growth as it was $36.925 million compared to $41.770 million in October 2019. The trade deficit during July-November (2019-20) was recorded at US $ 9.668 billion against the deficit of US $14.439 billion during July-November (2018-19), the data revealed. The exports during the period increased from US $ 9.109 billion during last year to US $ 9.545 billion during the current fiscal year, showing growth of 4.79 percent. On the other hand, the imports into the country witnessed decline of 18.41 percent by falling from US $ 23.548 billion last year to US $19.213 billion during the current fiscal year, the data revealed.
