Pakistan Imports Mobile Phones Worth Rs 19 Billion in July 2023

In July 2023, mobile phone imports in Pakistan reached a substantial value of Rs. 19 billion, as reported by the Pakistan Bureau of Statistics (PBS).

As per PBS data, the imports for July 2023 marked a 24 per cent increase from the previous month of June 2023, rising from Rs. 15.356 billion to Rs. 19 billion.

Pakistan Imports Mobile Phones Worth Rs 19 Billion in July 2023

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The rise in imports was notably substantial compared to the same month of the previous fiscal year (FY24). Last year, the country experienced an impressive surge of nearly 125 per cent from imports worth Rs. 6.542 billion in July 2022.

In terms of dollars, the imports for July 2023 reached $68.135 million, marking a 27 per cent increase from June 2023 and a substantial 75 per cent rise compared to July 2022.

It’s worth noting that the government implemented stringent import restrictions last year to manage dollar outflows. As a return, the imports were reduced.

The trade deficit of Pakistan was reduced by 43.03 per cent to $27.547 billion in the fiscal year 2022–23 (FY23) due to the import restrictions. In contrast to $48.354 billion in the previous year. Imports dropped by 31 per cent, from $80.136 billion in FY22 to $55.291 billion in FY23.

After the central bank removed all removing restrictions towards the end of June, imports started to increase once again.

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