Mobile Phone Import: September Imports Cross Rs 37 Billion in Pakistan

The Pakistan Bureau of Statistics (PBS) released the data related to mobile phone imports on Wednesday. The mobile phone imports into Pakistan skyrocketed to an astounding Rs. 37.1 billion in September 2023. The PBS reported an astonishing increase in mobile phone import.

When compared to the statistics from August 2023, imports stood at a total of Rs. 32.7 billion at that time. This data demonstrates an astounding growth of 13.3 percent when compared to that figure. The numbers for the same month in the previous fiscal year (FY24) provide a dramatic difference, which is even more eye-catching than the stark contrast itself.

In comparison to the mobile phone import that were valued at Rs. 13.46 billion in September 2022, the mobile phone imports for September 2023 have skyrocketed by over 175 percent. It demonstrates that the mobile market in Pakistan is fast expanding.

Foreign Currency Surge

The value of September’s imports, measured in terms of foreign currency, came to $124.51 million. This figure represents a sizeable increase of 12 percent in comparison to the value of August’s imports, which stood at $111.34 million.

The jump is even more astonishing when one considers the fact that imports in September 2022 were only 58.407 million dollars, indicating a stunning 113 percent year-on-year rise. When looking at the big picture, the total amount of money spent on imports during the first three months of the fiscal year 24 (July–September) was a significant $304 million.

Pakistan’s mobile phone industry has experienced a remarkable surge in growth, as indicated by the latest figures. In comparison to the $160.2 million recorded during the same period in FY23, the industry has witnessed a staggering 89 percent increase. This significant rise highlights the dynamic nature of the sector and its ability to adapt to changing market conditions.

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The increased demand for modern communication technologies and the growing connectivity needs of the Pakistani public are reflected in the surge in mobile phone imports that have taken place recently. This also indicates the possibility for further developments in the mobile technology sector, which is destined to play an essential part in Pakistan’s ongoing digital evolution. As a result of this exponential expansion, Pakistan’s mobile market is about to embark on a journey that will be both thrilling and revolutionary in the years to come.

FY24 – An Exponentially Developing Year

In a remarkable display of progress, the cumulative data for the initial quarter of the ongoing fiscal year, encompassing the months of July to September 2023 (FY24), has unveiled a striking depiction of substantial growth. When compared to the value of imports reported during the same time period in the previous fiscal year, FY23, which totaled 35.9 billion rupees, the current value of imports during this period amounted to a hefty 88.95 billion rupees, showing an astounding 147 percent rise.

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