Economic Recovery in Action as Mobile Imports Soar by 76%

The Mobile Industry seems to be reviving in Pakistan. According to the data shared by the Pakistan Bureau of Statistics (PBS), the import of mobile phones in Pakistan witnessed a staggering 76% increase within just one month. The increase can be attributed to the lifting of import restrictions by the government of Pakistan.

As per the reports, mobile phones worth Rs 32.71 billion were imported into the country during the month of August, witnessing an increase of Rs 19.14 billion in July.

This remarkable surge in imports has shocked the observers and showed that consumer preferences are shifting toward foreign mobile phone brands. The documents released by PBS also revealed that the total worth of mobile phones imported in August 2023 has witnessed a massive increase compared to the same month last year when imports were worth Rs13.92 billion.

The imports in August 2023 were responsible for an astonishing $111.3 million in expenses. Substantial foreign exchange spending of 6 crore 81 lakh 35 thousand dollars was also spent in July on mobile phone imports. The demand from consumers for smartphones and other mobile devices is expected to rise sharply, according to this trend.

In terms of the overall trend, the import of mobile phones was a staggering Rs136.84 billion during the previous fiscal year, indicating the sector’s consistent expansion. In addition, the nation imported mobile phones for more than 570 million dollars in the fiscal year 2022–2023 as opposed to Rs1.970 billion in the fiscal year 2021–2022.

The rise in imports of mobile phones is viewed as a favorable development for global technology manufacturers seeking to enhance their foothold in the Pakistani market. This uptick is anticipated to enhance the variety of devices accessible to consumers and has the potential to lower prices as competition intensifies. At present, consumers can look forward to a broader assortment of mobile phones in the Pakistani market, which mirrors the evolving preferences and needs of the population.

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Pakistan Imports Mobile Phones Worth $180 Million Amid Economic Challenges