Pakistan’s IT Service Exports Surge to $1.15 Billion

Pakistan has reported a notable surge in its earnings from Information Technology (IT) services, with exports reaching $1,151.956 million during the initial five months of the fiscal year 2023-24. This marks a significant growth of 5.89% compared to the same period in the previous fiscal year, as per the Pakistan Bureau of Statistics (PBS).

The export of computer services saw a robust growth of 8.17%, rising from $864.429 million to $935.016 million during July-November 2023. Notably, software consultancy services experienced a substantial increase of 46.67%, reaching $2.508 million, while hardware consultancy services also saw growth, rising by 4.15% to $331.231 million.

However, the export of repair and maintenance services witnessed a decline of 40.74%, dropping from $1.485 million to $0.880 million. Similarly, while the export and imports of computer software services saw a modest increase of 4.05%, from $239.473 million to $249.179 million, the export of information services decreased by 22.91% to $1.380 million.

Among information-related services, exports increased by 12.37% to $0.545 million, while news agency services saw a decline of 36.02%, dropping to $0.835 million. Furthermore, telecommunication services experienced a slight dip of 2.77%, decreasing from $221.710 million to $215.560 million.

Despite this overall decline, call center services recorded an 11.11% increase in exports, reaching $97.026 million, while other telecommunication services saw a decrease of 11.798%, falling to $118.534 million during this period, according to PBS data.