The import of mobile phones in Pakistan saw a staggering 76% increase within just one month, as the government relaxed import restrictions, according to data from the Bureau of Statistics.
According to reports, mobile phones worth a whopping Rs32.71 billion flooded into the country during August, up from Rs19.14 billion in July.
This unprecedented surge in imports has raised eyebrows and led to questions about the country's economic stability, as well as consumer preferences shifting towards foreign mobile phone brands.
The documents released by the Bureau of Statistics reveal that the total worth of mobile phones imported in August 2023 has seen a massive leap compared to the same month last year when imports were valued at Rs13.92 billion.
The August 2023 imports accounted for a staggering $111.3 million in expenses.
July also witnessed significant spending on mobile phone imports, totaling 6 crore 81 lakh 35 thousand dollars in foreign exchange. This trend points towards a sharp increase in consumer demand for smartphones and other mobile devices.
Looking back at the overall trend, the import of mobile phones during the last financial year stood at a whopping Rs136.84 billion, indicating steady growth in this sector. Furthermore, in the fiscal year 2022-23, the country spent more than 570 million dollars on mobile phone imports, compared to Rs1.970 billion in the previous fiscal year (2021-22).
The surge 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 expected to boost the availability of a wider range of devices for consumers while potentially driving down prices due to increased competition.
For now, consumers can anticipate a more diverse selection of mobile phones in the Pakistani market, reflecting the changing preferences and demands of the population.
