Mobile Phone Imports Cross Rs177 Billion in FY24.
Pakistan’s Mobile Mania: Imports Skyrocket, November Sees Slight Dip
Pakistan’s mobile phone appetite shows no signs of waning, with imports surging by a whopping 173% in the first five months of the current fiscal year (July-November 2023) compared to the same period last year.
Read More: Mobiles Phone More Expensive after FBR Increased Custom Value
This translates to a staggering Rs. 177.31 billion spent on mobile phones, compared to just Rs. 64 billion in FY23.
The Big Picture:
- Massive surge: In the first five months of FY24 (July-November), mobile phone imports grew a staggering 173% compared to the same period last year, reaching Rs. 177.31 billion ($616.54 million).
- Dollar terms: The increase in dollar terms is also impressive, at 112% year-on-year.
Monthly Snapshot:
- November 2023: Imports took a slight dip compared to October, declining 10% to Rs. 41.8 billion ($146.54 million).
- Year-on-year growth: However, compared to November 2022, imports showed a significant jump of 191% in rupees and 127% in dollars.
Key Takeaways:
- The Pakistani mobile phone market is experiencing explosive growth.
- While there was a slight dip in November, the long-term trend remains upward.
- This surge could be attributed to factors like increased demand, easing of import restrictions, or new phone launches.
Further Exploration:
- It’s interesting to explore the brands, price segments, and reasons behind this growth.
- Analyzing the impact on local mobile phone manufacturing and the overall economy would also be insightful.
Read More: Mobile Phones Costing Rs 33 Billion Imported in August 2023
This condensed and informative version highlights the key findings of the report and encourages further exploration of the reasons and implications behind this surge in mobile phone imports in Pakistan.
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