Last year, Pakistan witnessed economic turmoil due to the floods and the general global recession. In this regard, the State Bank of Pakistan has banned the import of a number of items due to meager foreign reserves. It has affected a number of imports, including mobile phone imports. In the first quarter of fiscal year 2022-2023, Pakistan witnessed a 56% drop in mobile phone imports. Now, mobile phone imports in Pakistan fell by 66 percent in the first half of fiscal year 2023, compared to the same period of last fiscal year.
According to the Pakistan Bureau of Statistics (PBS), mobile phone imports into the country amounted to $362.86 million in July-December of the current fiscal year. In comparison, the same months of fiscal year 2021-2022 recorded imports of $1,090.64 million, which is a decrease of 66.73 percent.
Pakistani mobile phone imports fall 66% in the first half of FY 2023
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Meanwhile, year-on-year mobile phone imports also fell by 69.1 percent in the month of December 2022 compared to the same month last year.
On the other hand, mobile phone imports in December 2022 saw an increase of 12.04 percent on a monthly basis. However, in November 2022, imports reached $64.52 million.
The drop in phone imports in Pakistan could have a negative impact on the economy. Decline in mobile phone imports could lead to a loss of revenue for the government due to lower import tariffs. If imports fall too much, this could lead to job losses in the mobile phone import industry and related industries such as transportation and logistics.
Also see: WEF Global Risks Report 2023: Pakistan needs to improve cybersecurity measures and digital inequality