Mobile Imports Increase by a Whopping 181.3% – Source

On Tuesday, Pakistan’s Economic Survey 2023-24 was released, highlighting the major socio-economic developments in the country. In the Survey, it was revealed that imports by the country’s telecom sector increased by a whopping 117.9%, jumping to $1.623 billion during July-March FY2024. Comparatively, the sector’s imports were around $745 million for the same period of the previous year.

Among the telecom exports, the largest jump was witnessed in mobile phone imports. They rose by 181.3% during July-March FY2024 and reached $1.3 billion in comparison to $462.7 million in the same period the previous year. According to the survey,

“The removal of import restrictions in concurrence with rupee appreciation since September 2023, created a favorable environment, leading to higher imports of mobile phones. However, the telecom sector’s imports present an exception because the overall imports in the country have decreased, amid policy tightening and other administrative measures.”

The total imports during July-March FY2024  declined by 8.7%, amounting to $39.9 billion in comparison to $43.7 billion in the same period of the previous year.

Moreover, it is pertinent to mention here that the country’s imports are highly concentrated in a few countries, just like its exports. Pakistan imports from countries such as China, KSA, UAE, and Indonesia, which constitute around half of the total imports.

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