Sunday, July 14, 2024

Pakistan Imports Mobile Phones Worth Over Rs. 450 Billion in 11 Months

During the first 11 months of the fiscal year 2023-24, from July to May, Pakistan imported mobile phones worth $1.621 billion. This represents a huge increase of 213.97% compared to the same period last year, when imports were $516.488 million.

When converted to local currency, the value of mobile phone imports reached Rs458.472 billion. This is a significant growth of 277.37% from the previous year’s Rs121.491 billion.

Although there was a slight decrease of 1.58% in mobile phone imports in May 2024 compared to April 2024, the year-on-year figures show a continued rise. In May 2024, imports were valued at $158.842 million, up from $43.201 million in May 2023.

In addition to importing mobile phones, local manufacturing also played a role. In the first four months of 2024, Pakistan produced 10.85 million handsets, including both 2G phones and smartphones.

This substantial increase in both imports and local production indicates a growing demand for mobile phones in Pakistan. The surge in imports, despite a minor month-on-month decline, shows that more people are buying mobile phones, likely driven by technological advancements and increased connectivity needs.

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