Pakistan’s Exports in IT Services Surge by 42% in 1qfy22

ISLAMABAD, Nov 24 (INP-WealthPK): Pakistan posted a growth of 42% in terms of extending information technology services to various countries, earning $635 million during the first three months (July-September) of the financial year 2021-22 compared to the $445 million earned during the first quarter of fiscal year 2020-21.

Exports of computer services registered a growth of 40% to reach over $490 million this year from over $348 million of last fiscal, reports Pakistan Bureau of Statistics.

Exports of software consultancy services grew by 52% to reach over $176 million during the first quarter of this fiscal from over $115 million of the corresponding period, while exports of hardware consultancy services grew by a whopping 506% reaching to $0.837 million from $0.138 million of the last quarter.

Exports of computer software-related services also grew by 42% to reach over $124 million from over $87 million, whereas the exports of repair and maintenance services surged to $0.345 million from $0.145 million in the comparable months.

Exports of other computer services surged by 30% to reach over $188 million from over $145 during the comparable months.

On the other hand, exports of information services increased by 76% to reach $1.340 million from $0.760 million during the comparable period.

Of the information services, exports of news agency services surged by 134% to reach $0.962 million from $0.411 million during the comparable period under review. Exports of other information services also grew by 8%, reaching $0.378 million from $0.349 million.

Telecommunication services exports also rose by 48% to reach $142.780 million from $95.920 million during the months under review. Exports of call centre services posted a growth of 38% to reach $44 million from over $31 million during the period under review. Exports of other telecommunication services rose by 53% to reach over $98 million from over $64 million during the same period.

Meanwhile, exports of other services registered a surge of 23% during the first quarter of the current fiscal compared to the corresponding period of last year. Exports of services during the first quarter of this fiscal stood at about $157 million compared to about $127 million of the last fiscal.

Imports also rose by 26% in the first quarter of this fiscal to reach over $228 million from over $180 million of last year.