Pakistan imports mobile phones worth Rs. 19 billion in July

• Pakistan imported mobile phones worth Rs. 19 billion in July 2023, as per the Pakistan Bureau of Statistics (PBS).
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• July 2023 imports surged by 24%, climbing from Rs. 15.356 billion in June 2023 to Rs. 19 billion, according to PBS data.
• However, with the central bank lifting all restrictions by the end of June, imports have started to rise again.

In July 2023, Pakistan’s mobile phone imports reached a substantial value of Rs. 19 billion, as reported by the Pakistan Bureau of Statistics (PBS).

As per PBS data, the imports for July 2023 marked a 24 percent increase from the previous month of June 2023, rising from Rs. 15.356 billion to Rs. 19 billion.

The rise in imports was notably substantial compared to the same month of the previous fiscal year (FY24), experiencing an impressive surge of nearly 125 percent from imports worth Rs. 6.542 billion in July 2022.

In terms of dollars, the imports for July 2023 reached $68.135 million, marking a 27 percent increase from June 2023 and a substantial 75 percent rise compared to July 2022.

It’s worth noting that the government implemented stringent import restrictions last year to manage dollar outflows, leading to reduced imports.

The trade deficit of Pakistan was reduced by 43.03 percent to $27.547 billion in the fiscal year 2022–23 (FY23) due to the import restrictions, in contrast to $48.354 billion in the previous year. Imports dropped by 31 percent, from $80.136 billion in FY22 to $55.291 billion in FY23.

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