Imports of cellphones, cars cost $687 million
The demand for mobile phones and cars remained in place as imports worth $687 million.
KARACHI:
The demand for mobile phones and cars remained in place as imports worth $687 million were made in five months (July-November) of the current financial year 2010-11, data shows.
This came despite persisting problems like poverty, inflation and low purchasing power in the wake of economic slowdown and high commodity prices.
According to Federal Bureau of Statistics data, mobile phone imports rose 100 per cent to $180 million in July-November 2010 compared to imports worth $91 million in the same period the previous year.
Industry sources said that the rich class is buying expensive mobiles while the middle class is purchasing low-cost sets. Many consumers preferred low-cost Chinese mobiles compared to expensive sets of renowned companies, they said.
Besides the cellphones, sales of supplementary items like memory cards, headphones, casing covers and others are also rising, prompting the need for their import.
In the five months under review, car imports rose 20 per cent to $507 million against imports worth $422 million in July-November 2009. Imports of completely assembled cars (completely-built units – CBU) cost $72 million compared to imports worth $77 million last year, showing a decline of 1.6 per cent.
On the other hand, imports of completely knocked down and semi-knocked down kits stood at $272 million against $203 million last year, showing an increase of 34 per cent.
Published in The Express Tribune, January 6th, 2011.
The demand for mobile phones and cars remained in place as imports worth $687 million were made in five months (July-November) of the current financial year 2010-11, data shows.
This came despite persisting problems like poverty, inflation and low purchasing power in the wake of economic slowdown and high commodity prices.
According to Federal Bureau of Statistics data, mobile phone imports rose 100 per cent to $180 million in July-November 2010 compared to imports worth $91 million in the same period the previous year.
Industry sources said that the rich class is buying expensive mobiles while the middle class is purchasing low-cost sets. Many consumers preferred low-cost Chinese mobiles compared to expensive sets of renowned companies, they said.
Besides the cellphones, sales of supplementary items like memory cards, headphones, casing covers and others are also rising, prompting the need for their import.
In the five months under review, car imports rose 20 per cent to $507 million against imports worth $422 million in July-November 2009. Imports of completely assembled cars (completely-built units – CBU) cost $72 million compared to imports worth $77 million last year, showing a decline of 1.6 per cent.
On the other hand, imports of completely knocked down and semi-knocked down kits stood at $272 million against $203 million last year, showing an increase of 34 per cent.
Published in The Express Tribune, January 6th, 2011.