Mobile Phones Costing Rs 33 Billion Imported in August 2023. Pakistan witnessed a significant surge in mobile phone imports, with data from the Pakistan Bureau of Statistics (PBS) indicating that these imports surpassed Rs. 32.7 billion. This figure marked a substantial 71 percent increase when compared to the previous month, July 2023, which had seen imports valued at Rs. 19.1 billion.
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The year-on-year growth in mobile phone imports was even more remarkable, surging by an impressive 135 percent compared to August 2022, when imports had amounted to Rs. 13.9 billion. This huge import included mobiles of different companies.
Pakistan’s mobile phone imports crossed Rs. 32.7 billion in August 2023. In terms of dollar value, the mobile phone imports in August reached $111.34 million, marking a substantial 63 percent increase compared to the previous month, July 2023, and a notable 76 percent surge when compared to August 2022.
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Analyzing the broader picture, the cumulative mobile phone imports for the initial two months of the current fiscal year, spanning July and August 2023, reached Rs. 51.85 billion. This figure reflects a remarkable 131 percent increase in comparison to the same period in the previous fiscal year, which had recorded imports valued at Rs. 22.44 billion.
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Expressed in dollar terms, the imports during July and August 2023 amounted to $179.47 million, marking a substantial 76 percent surge when compared to the corresponding period in the previous fiscal year, which had seen imports totaling $101.86 million.
It is pertinent to mention, keeping in view Mobile Phones Costing Rs 33 Billion Imported in August 2023, that Pakistan faces dire economic challenges characterized by rising inflation, a depreciating currency, and dwindling foreign exchange reserves. High fiscal deficits, energy shortages, and political instability further exacerbate the situation, leading to increased poverty levels and unemployment, posing significant hurdles to sustainable economic growth.
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