Pakistan has witnessed a significant rise in cell phone imports during the first 11 months of the fiscal year 2023-24, with a 233% year-on-year (YoY) increase to $1.89 billion. This surge in imports is a clear indication of the growing demand for mobile devices in the country.
Key Highlights:
– Mobile phone imports grew by 213.97% YoY in the first 11 months of FY 2023-24.
– June 2024 saw a 419.90% YoY increase in mobile phone imports, reaching $53.582 million.
– Overall telecom imports rose by 147.36% to $2.366 billion in FY 2023-24.
– Local manufacturing/assembling of mobile handsets declined by 4% in 2023 due to import restrictions.
Local Manufacturing and Import Trends:_
– 13.08 million mobile handsets were locally manufactured/assembled in the first five months of 2024.
– Commercial imports of mobile handsets increased from 1.53 million in 2022 to 1.58 million in 2023.
– Locally manufactured/assembled handsets included 4.98 million 2G and 8.1 million smartphones.
– 61% of mobile devices on the Pakistan network are smartphones, while 39% are 2G devices.
Reasons Behind the Surge:_
– The surge in cell phone imports can be attributed to the growing demand for mobile devices in Pakistan.
– The increasing popularity of smartphones and mobile internet has led to a rise in demand for high-quality mobile devices.
– Local manufacturing has not been able to keep up with demand, leading to an increase in imports.
_Impact on the Economy:_
– The surge in cell phone imports has had a significant impact on Pakistan’s economy.
– The increase in imports has led to a rise in foreign exchange expenditure.
– However, the growth in the telecom sector has also created new job opportunities and stimulated economic growth.
Conclusion:
– The surge in cell phone imports in Pakistan is a clear indication of the growing demand for mobile devices in the country.
– While local manufacturing has declined, imports have risen to meet the demand.
– The government needs to focus on promoting local manufacturing and reducing import restrictions to stimulate economic growth.
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