In a remarkable economic development, Pakistan has experienced an unprecedented surge in mobile phone imports, reaching an astounding 209% increase in the first 10 months of the fiscal year 2024. Comparing the figures to the same period last year, where imports stood at $473.287 million, the current import value has skyrocketed to a staggering $1.462 billion.
April 2024 particularly stood out, witnessing a 5.44% month-on-month surge in imports, totaling $161.393 million. This surge reflects a monumental 1,424% year-on-year increase compared to April 2023, showcasing the rapid expansion of the mobile phone market in the country.
The surge isn’t confined to dollar values alone; in rupee terms, imports surged by 279%, reaching Rs414.276 billion from Rs109.158 billion in the previous year. Overall telecom imports, inclusive of various devices and equipment, rose by an impressive 135% to $1.834 billion.
A notable aspect of this surge is the growth in local manufacturing, with 6.1 million handsets produced in the first two months of 2024 alone. This indicates a significant stride towards self-sufficiency in the mobile phone industry, aligning with Pakistan’s broader economic objectives.
Despite facing import challenges, the notable increase in mobile handset imports underscores the resilience and potential of Pakistan’s telecom sector. This surge not only reflects growing consumer demand but also signifies the country’s attractiveness as a market for mobile technology.
