Mobile phone imports jump up 94 percent in July – September

Mobile phone imports jump up 94 percent in July – September

Pakistan’s mobile phone imports witnessed a significant surge of 94 percent during the first quarter (July–September) of the fiscal year 2020/2021, according to figures released by the Pakistan Bureau of Statistics (PBS) on Saturday. The country imported mobile phones worth Rs82 billion in this period, a sharp rise from the Rs42 billion recorded in the same quarter of the previous fiscal year.

The substantial increase in mobile phone imports is largely attributed to the growing demand for digital services in the wake of the COVID-19 pandemic. As lockdowns and restrictions were imposed to curb the virus’s spread, many individuals turned to mobile devices for essential services, including financial transactions, remote work, online education, and communication. Industry experts have highlighted this trend, noting how the pandemic has accelerated the adoption of mobile technology across various sectors of the economy.

Another factor contributing to the rise in mobile phone imports is the depreciation of the Pakistani rupee. The weakening currency made imports more expensive in local terms, amplifying the overall cost of mobile phone purchases despite stable or increasing demand.

In dollar terms, mobile phone imports also saw a significant increase. Imports rose by 83 percent to $493 million in the first quarter of the current fiscal year, compared to $269 million in the corresponding quarter of the last fiscal year. This shows the robust demand for mobile devices despite the economic challenges posed by the pandemic.

Additionally, for the first two months of the current fiscal year, mobile phone imports in dollar terms increased by 87.37 percent, reaching $306.38 million compared to $163.52 million in the same period of the previous year. This surge underscores the growing reliance on mobile technology in Pakistan, driven by the necessity for remote communication and financial services during the pandemic.

In September 2020 alone, mobile phone imports reached Rs31 billion, marking an 88 percent increase from the Rs16 billion recorded in the same month of 2019. The rise in imports is expected to continue as digital transformation accelerates in the country.

The sharp increase in mobile phone imports highlights the expanding role of digital services in Pakistan’s economy, as well as the challenges posed by currency depreciation. As the country navigates the post-pandemic world, the demand for mobile technology is likely to remain strong, further driving the growth of this sector.