According to recent data released by the Ministry of Commerce and Industry, smartphones imports in June 2020 rose to a three-year high at Rs 22.25 billion by value.
The rise was nearly six times from May 2020 and manifold from the Rs 56 million in February 2020.
Further, the data highlighted that on a quarterly basis, April-June 2020 saw the steepest surge ever in imports to Rs 30.39 billion from Rs 1.54 billion in January-March 2020. Around 92 per cent of these imports are shipped from China and Vietnam. Conversely, exports in the April-June 2020 period fell 40 per cent sequentially to Rs 12.24 billion.