Pakistan sees massive drop of 199% in mobile phone imports

WEB DESK: In a significant development, Pakistan has witnessed a substantial decline in the imports of mobile phones during the current financial year.

According to the latest data released by the State Bank of Pakistan (SBP) and Pakistan Bureau of Statistics (PBS), foreign exchange spending on mobile phone imports from July to November 2023 amounted to $28.69 million.

This figure represents a staggering 199 per cent decrease compared to the corresponding period in the previous financial year, when the country spent $85.83 million on the imports of mobile phones.

The drastic reduction highlights a notable shift in consumer behaviour and market dynamics.

Breaking down the data further, it is revealed that in November alone, $7.13 million was expended on mobile phone imports.

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This marks a slight increase from the $6.19 million spent in October but is significantly lower than the $6.258 million recorded in November of the preceding year.

The broader context of total imports in the work sector during the mentioned period reveals a figure of $676.062 million.

This is a substantial uptick from the $373.11 million recorded in the corresponding period of the previous financial year, indicating a broader trend in the sector’s economic activity.

The reasons behind this sharp decline in mobile phone imports remain a subject of interest for analysts and policymakers alike.

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