In the first five months of the current fiscal year (2022-23) compared to the same period the previous year, mobile phone imports decreased by 66.08 percent.
According to the most recent statistics made available by the Pakistan Bureau of Statistics, Pakistan imported mobile phones worth US $290.570 million from July to November 2022 compared to US $856.730 million from July to November (2021–22), showing a fall of 66.08 percent (PBS).
In contrast, on an annual basis, mobile phone imports decreased by 69.57 percent in November 2022 compared to the same month in the previous year. Compared to November 2021’s $212.058 million in exports, November 2022 had a $64.520 million increase in mobile phone imports.
Pakistan faces a cold mobile demand
According to the statistics, mobile phone imports decreased 1.92 percent on a monthly basis in November 2022 compared to US $65.780 million in imports in October 2022. It is important to note that the merchandise trade deficit fell by 30.14 percent over the first five months of the current fiscal year, dropping from $20,621 million last year to $14,406 million this year.
Exports between July and November 2022 totaled $11,932 million, down from $12,362 million between July and November 2021–22, according to PBS statistics, a decrease of 3.48 percent. On the other hand, the nation’s imports fell by 20.15 percent throughout the study period, from $ 32,983 million in the prior year to $ 26,338 million this year.
Food demand surges, however
Earlier on October 15, it was revealed that Pakistan’s food imports increased by 15% in the first quarter of the fiscal year 2022–23 despite the fact that it is an agricultural nation. Details indicate that during July to September 2022, Pakistan’s food imports increased to $2.79 billion. These were at Rs2.11 billion over the same time period the previous year. Wheat imports increased by 311% and cost $407 million between July and September. In the same period last year, wheat imports totaled $99 million. Imports of cooking oil increased by 34% and cost $1.24 billion. Imports of tobacco rose by 26%, while imports of fruits and vegetables rose by 8%.
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