Pakistan earns $635mn from the export of IT services in the first quarter

In what has been a pretty impressive period of growth for the country’s information technology ambitions, Pakistan recorded earnings of over $635 million by providing various IT services to a whole host of countries during the first quarter of the financial year 2021-22. 

As per data from the Pakistan Bureau of Statistics (PBS) discussed by the Daily Times, the export of computer services grew by 40.90 percent during July-September 2021, increasing from $348.4 million last fiscal year to $490.89 million this year. 

Among the computer-related services being provided by Pakistan, the export of software consultancy services experienced a significant surge of 52.72 percent from $115.534 million to $176.534 million. 

Meanwhile, the export of hardware consultancy services rose by an incredible 506.52 percent from $0.138 million to $0.837 million. 

The export and import of computer software-related services also rose by 42.39 percent, from $87.575 million to $124.702 million whereas the export of repair and maintenance services surged to $0.345 million from $0.145 million. 

In addition, the export of other computer services increased by 30.03 percent going up from $145.008 million to $188.560 million. 

Meanwhile, the export of information services during the period under review increased by 76.32 percent by going up from $0.760 million to $1.340 million. 

The export of services in general during the first quarter this year, as compared to the same period last year, has witnessed an increase of 23.20 percent as per the PBS data. 

The export of services during July-September (2021-22) was recorded at $1572.04 million against the exports of $1275.97 million in July-September (2020-21), suggesting a growth of 23.20 percent.  

The imports from the country also rose by 26.54 percent by growing from $1809.08 million last year to $2289.25 million during the period under review.