Pakistan IT Services Export Soars to $2.593 Billion in First Ten Months of FY 2023-24

Pakistan’s information technology (IT) sector has made a substantial stride, earning a remarkable US $2.593 billion by providing different IT services to international markets during the first ten months of the current fiscal year 2023-24. According to the Pakistan Bureau of Statistics (PBS), this outstanding figure reflects growth of 20.41% compared to the US $2.135 billion earned in the same period of the previous fiscal year, 2022-23. Pakistan IT services export surged by 24.55%, rising from US $1.729 billion to US $2.153 billion in July-April 2023-24.

Robust Growth in Pakistan IT Services Export

The growth in IT exports highlights Pakistan’s expanding footprint in the global IT market. Among computer services, exports of software consultancy services increased by 10.80%, from US $633.107 million to US $701.456 million, while hardware consultancy services surged by 19.24%, climbing from US $4.793 million to US $5.715 million. However, repair and maintenance services exports decreased by 45.69%, falling from US $2.762 million to US $1.500 million. On a positive note, exports of computer software services grew by 6.77%, from US $489.737 million to US $522.909 million. Meanwhile, information services exports witnessed an unprecedented increase of 105.90%, from US $4.240 million to US $8.730 million.

The diverse growth in information services is notable, with news agency services exports skyrocketing by 167.58%, from US $2.505 million to US $6.730 million, and other information-related services exports increasing by 16.83%, from US $1.735 million to US $2.027 million. The telecommunication sector also reported positive growth, with overall exports rising by 7.04%, from US $402.260 million to US $430.590 million. Within this sector, call center services exports soared by 17.59%, from US $180.682 million to US $212.467 million, while other telecommunication services exports saw a slight decline of 1.56%, from US $221.578 million to US $218.123 million.

These figures underline Pakistan’s robust performance in the IT sector, showcasing the country’s potential to become a significant player in the global IT services market. The constant increase in exports echoes the growing demand for Pakistan’s IT services and highlights the sector’s capability to drive economic growth. With significant gains in software and hardware consultancy, and news agency services, Pakistan is well-positioned to leverage its IT expertise and extend its footprint in international markets, contributing greatly to the national economy.

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Laiba Mohsin

Laiba is an Electrical Engineer seeking a placement to gain hands-on experience in relevant areas of telecommunications. She likes to write about tech and gadgets. She loves shopping, traveling and exploring things.

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