Imports of mobiles significantly drops in Pakistan

Islamabad: Imports of mobile phones in Pakistan recorded a significant decline in the first quarter of current financial year on an annual basis.

According to the data released by State Bank of Pakistan (SBP) and Pakistan Bureau of Statistics (PBS), in the first quarter of the current fiscal year, 15.36 million dollars of foreign exchange was spent on the imports of mobile phones, which is 364% less than the same period of the previous fiscal year.

In the same period of previous financial year, the foreign exchange was spent on imports of mobile phones worth $71.21 million. In September 2023, the volume of imports of mobile phones was recorded at $7.048 million, which was 4.97 million dollars in August and 85.81 million dollars in September 2022.

In the fiscal year 2023, 90.88 million dollars of foreign exchange was spent on the imports of mobile phones.

It is pertinent to note that in the first quarter of the financial year, the volume of total imports of Telecom Group has been recorded at $366.31 million, which was 209.52 million dollars in the same period of the previous financial year.