Pakistan’s IT sector is gradually rising and expanding itself. It is evident through its earnings in the last quarter. The country earned a whopping $829.977 million by rendering diverse information technology (IT) services to numerous countries during the first four months of the financial year 2021-22.
According to the Pakistan Bureau of Statistics (PBS), the current data indicates an impressive growth of 39.24 percent when compared to $596.090 million earned during the same period in the fiscal year 2020-21.
Export of Computer Services increased by 39 percent:
During the period July-October (2021-22), the export of computer services witnessed an increase of 39.01 percent. The computer services managed to make a staggering $650.117 million this year as compared to $467.690 million last fiscal year.
If we look at the computer services, the exports of software consultancy services saw an increase of 47.95 percent, from $156.256 million to $231.178 million. Simultaneously, the exports of hardware consultancy services also increased by 353.54 percent from $0.198 million to $0.898 million. Furthermore, the exports of repair and maintenance services increased to $0.404 million from $0.179 million.
Export of Informations Services Surged by 53 Percent:
The export of information services during the 4 months of the fiscal year surged by 53.51 percent, from $1.140 million to $1.750 million. The exports of news agency services ramped up by 107.60 percent, from $0.579 million to $1.202 million. However, unfortunately, the exports of other information services saw a decline of 2.32 percent, from $0.561 million to $0.548 million.
Export of Telecom Services Increased by 39 percent:
The export of telecommunication services also saw an expansion of 39.96 percent, from $127.260 million to $178.110 million, as per the data from the PBS.
Conclusively, it is a good sign for Pakistan as the country has been witnessing impressive growth in its respective IT sector since last year. We expect the same trajectory for the future as the IT sector can become a major contributor to the overall GDP of the country.