Jul-Nov mobile phones imports up 112.2pc to $616.54m YoY

ISLAMABAD: The country imported mobile phones worth $616.541 million during the first five months (July-November) of the current fiscal year 2023-24, registering a growth of 112.20per cent when compared to $290.550 million during the same period of last year.

Pakistan’s mobile phone imports decreased by 11.69 per cent on a Month-on-Month (MoM) basis in November 2023 and stood at $146.549 million compared to imports of $165.941 million in October 2023, according to data released by the Pakistan Bureau of Statistics (PBS).

Mobile phone imports registered 127.21per cent growth on a Year-on-Year (YoY) basis in November 2023 when compared to $64.499 million in November 2022.

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The overall telecom imports into the country stood at $794.445 million during July-November 2023 and registered 74.36per cent growth compared to $455.625 million during the same period of the last fiscal year.

On a YoY basis, the overall telecom imports registered a growth of 70.48per cent and stood at $187.580 million in November 2023 compared to $110.030 million in November 2022. On a MoM basis, the overall telecom imports registered 9.73per cent negative growth in November 2023 compared to $207.789 million during October 2023.

Aamir Allawala, vice chairman Pakistan Mobile Phone Manufacturers Association (PMPMA) told Business Recorder that the opening of letters of credit (LCs) has been improved and hence imports of mobile handset parts have also increased. He further said that currently, 31 mobile manufacturing companies are operating in the country and resultantly, around 95 per cent mobile handsets being sold in the country are made in Pakistan.

Local manufacturing plants have manufactured/assembled 15.66 million mobile handsets during the first 10 months (January-October) of 2023 compared to 1.28 million imported commercially. The local manufacturing plants have manufactured/assembled 2.64 million mobile handsets during October 2023 compared to 0.19 million imported commercially.

Local manufacturing plants manufactured/assembled 21.94 million mobile handsets during the calendar year 2022 compared to 24.66 million in 2021, ie, registered a decline, attributable to issues in imports on account of restricting the opening of letters of credit (LCs). Around 21.94 million mobile handsets were assembled during the calendar year 2022 - compared to 1.53 million commercially imported phones handsets, said the Pakistan Telecommunication Authority (PTA).

Copyright Business Recorder, 2023