Pakistan’s information technology (IT) services industry has recorded a 2.38% growth in exports, reaching US$1,523.280 million during the first seven months of the fiscal year 2022-23. The latest data released by the Pakistan Bureau of Statistics (PBS) shows that the country earned US$1,487.865 million in the same period of the previous fiscal year. The figures indicate a promising outlook for Pakistan’s IT industry, which has become an important source of foreign exchange earnings for the country.
Export of Computer Services Increases by 2.87%
During the period under review, Pakistan’s export of computer services rose by 2.87%, from US$1,191.575 million in the previous fiscal year to US$1,225.730 million in the current fiscal year. The increase in the export of computer services is a positive sign for the industry, which has been growing steadily over the past few years.
Export of Software Consultancy Services Increases by 5.57%
The current fiscal year has witnessed a significant increase of 5.57% in Pakistan’s exports of software consultancy services. The earnings from this sector rose from US$430.309 million in the previous fiscal year to US$454.283 million in the current fiscal year. This growth indicates the increasing demand for Pakistani expertise in software consultancy services. With continued investment in education and training programs to develop a skilled workforce, the IT industry can continue to grow and make significant contributions to the country’s economy. The rise in the export of software consultancy services indicates that IT industry is gaining recognition for its expertise in software development and consultancy services.
Export of Hardware Consultancy Services Rises by 158.07%
Pakistan’s exports of hardware consultancy services increased by 158.07% from US$1.357 million in the previous fiscal year to US$3.502 million in the current fiscal year. The rise in the export of hardware consultancy services is a result of the growing demand for hardware-related services in the global market.
Export of Telecommunication Services Witnesses a 0.60% Increase
Pakistan’s export of telecommunication services witnessed a 0.60% increase, rising from US$293.180 million in the previous fiscal year to US$294.950 million in the current fiscal year. The growth in the export of telecommunication services is a result of the increasing demand for call center services in the global market.
Export of Call Centre Services Rises by 2.30%
Among the telecommunication services, it’s export of call center services rose by 2.30%, increasing from US$118.669 million in the previous fiscal year to US$121.398 million in the current fiscal year. This indicates that it’s call center industry is growing and becoming increasingly competitive in the global market.
Export of Other Telecommunication Services Decreases by 0.55%
However, the export of other telecommunication services decreased by 0.55%, from US$174.511 million in the previous fiscal year to US$173.552 million in the current fiscal year. This indicates that there is a need for it’s IT industry to diversify its services and expand its offerings beyond call center services.
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Export of Other Computer Services Witnesses a Decline of 6.70%
The current fiscal year has seen a decline of 6.70% in it’s export of other computer services. The earnings from this sector went down from US$446.655 million in the previous fiscal year to US$416.716 million in the current fiscal year. While this decline is concerning, it is important to note that the IT industry is a dynamic and ever-evolving sector that requires continuous innovation and adaptation to keep up with changing market trends. Therefore, it is crucial for IT companies to continue investing in research and development to create new and innovative products and services that can compete in the global market.
