Pakistan Witnesses a Significant Decline of 56% in Mobile Phone Imports

Pakistan has recently witnessed economic turmoil because of the floods and overall global recession. In this regard, the State Bank of Pakistan has put a ban on the import of a number of items, owing to meager foreign reserves. It has affected a number of imports including mobile phone imports. During the first three months of the current fiscal year (2022-23) compared to the same period in the previous fiscal year, imports of mobile phones have declined by a staggering 56 percent, as per a report.

Pakistan Witnesses a Significant Decline of 56% in Mobile Phone Imports

Pakistan imported mobile phones worth Rs 35.90 billion during July-September 2022-23 compared to Rs81.51 billion during July-September 2021-22, representing a decline of 56 percent, as per the data from the Pakistan Bureau of Statistics (PBS).

Comparing September 2022 to September 2021, mobile phone imports fell by 61.68 percent. The import of mobile phones decreased to Rs 13.46 billion in September 2022 from Rs35.12 billion in August 2021. According to the report, imports declined by 3.36 percent on a monthly basis during September 2022, compared to Rs13.93 billion during August 2022.

Earlier on October 15, it was revealed that despite being an agricultural nation, Pakistan’s food imports increased by 15% in the first three months of the fiscal year 2022-23. In July-September 2022, Pakistan’s food imports increased to $2.79 billion, according to specifics. During the same period last year, they totaled Rs2.11 billion.

From July to September, wheat imports increased by 311% and cost $407 million. In the same time frame a year ago, wheat imports totaled $99 million. Imports of cooking oil increased by 34% and cost $1.24 billion. Imports of tobacco grew by 26%, while imports of vegetables and fruits rose by 8%.

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