ISLAMABAD: The import of mobile phones in Pakistan recorded a staggering 76 percent increase within just one month, as the government relaxed import restrictions, according to data released by the Bureau of Statistics.
Mobile phones worth a whopping 32.71 billion rupees flooded into the country during August, up from 19.14 billion rupees in July. This unprecedented increase in imports has raised eyebrows and led to questions about the economic stability of the country, as well as consumer preferences shifting towards foreign mobile cell phone brands.
The documents released by the Bureau of Statistics show that the total worth of mobile phones imported last month has seen a massive jump compared to the corresponding month of 2022 when imports were valued at 13.92 billion rupees. The August 2023 imports accounted for a staggering 111.3 million dollars in expenses.
July also witnessed considerable spending on mobile phone imports, totaling 6 crore 81 lakh 35 thousand dollars in foreign exchange. This trend reflects a sharp increase in consumer demand for smartphones and other mobile devices.
Looking back at the overall trend, mobile phone imports during the last fiscal year stood at a whopping 136.84 billion rupees, indicating steady growth in this sector.
Pakistan’s Mobile Imports in FY 2022-23
Moreover, in the financial year 2022-23, Pakistan spent more than $570 million on mobile phone imports, compared to 1.970 billion rupees in the previous financial year (2021-22). The increase in mobile phone imports is seen as a positive sign for international tech manufacturers looking to expand their presence in the Pakistani market.
This increase is likely to boost the availability of a wider range of devices for consumers while potentially driving down rates due to increased competition.
