Pakistan has shown significant growth in the ICT export in December 2020. According to the latest statistics revealed by the State Bank of Pakistan (SBP), Pakistan’s ICT exports have grown more than 43 percent on a year-over-year (YoY) basis. The ICT exports stood at $194 million in December 2020 as compared to just $135 million in December 2019. It is expected that Pakistan’s ICT exports will cross $2 billion in FY 2020-21, besides impressive growth in December.
ICT Exports to Cross $2 billion in FY 2020-21: Dawood
Advisor on Trade and Investment Abdul Razak Dawood recently said:
I am glad to share that in keeping with the trend this Financial Year, exports of ICT and Telecommunication Services have grown by 43 percent to $194 million in December 2020 as compared to $135 million in December 2019. For July-Dec 2020, these exports grew by 40pc to $958 million as compared to $684 million during the same period last year.
He has attended the consultative meeting held at the Ministry of Commerce which also discussed Pakistan’s Global Trade in Services for the first half of the Financial Year (FY) 2020-21. The meeting was also attended by the officials of the Ministry of Commerce (MOC).
Pakistan’s total exports of services stood at $2.844 billion during the period of July to December 2020, as compared to $2.835 billion, during the same period in the previous year. Similarly, the import of services declined by 15.7 Percent to $ 3.821 billion during July to December 2020 as compared to July to December 2019.