According to the Pakistan Bureau of Statistics (PBS), mobile phone imports in Pakistan reached a significant value of Rs. 19 billion in July 2023.
According to PBS data, the imports for July 2023 increased by 24% from June 2023, going from Rs. 15.356 billion to RS . 19 billion.
Pakistan Imports Mobile Phones Worth Rs 19 Billion in July 2023
When compared to the same month in the previous fiscal year (FY24), imports increased significantly. The country had an astounding increase of around 125 percent from imports totaling Rs. 6.542 billion in July 2022 last year.
In terms of dollars, the imports for July 2023 reached $68.135 million, marking a 27 per cent increase from June 2023 and a substantial 75 per cent rise compared to July 2022.
In order to control dollar outflows, the government imposed tough import restrictions last year. The imports decreased as a result.
Due to import limitations, Pakistan’s trade deficit decreased by 43.03 percent to $27.547 billion in the fiscal year 2022–2023 (FY23). compared to $48.354 billion the year before. From $80.136 billion in FY22 to $55.291 billion in FY23, imports decreased by 31%.
Imports increased once more when the central bank lifted all restrictions around the end of June.