Pakistan’s IT Exports Surge, Reaching $1.45 Billion in First Half of FY 2023-24

ISLAMABAD: In a positive development for Pakistan’s economy, the Pakistan Bureau of Statistics (PBS) has reported a significant increase in revenue generated from Information Technology (IT) services during the first six months of the current fiscal year 2023-24.

According to PBS data, Pakistan earned a total of US $1,454.881 million by providing various IT services to different countries. This marks a notable growth of 8.98 per cent compared to the same period in the previous fiscal year, where earnings stood at US $1,334.969 million.

The export of computer services saw a robust growth of 10.32 per cent, reaching US $1,174.481 million during July-December 2023-24. Particularly, the export of hardware consultancy services surged by 3.401 per cent, from US $391.570 million to US $404.875 million, while software consultancy services witnessed a nominal decrease.

Despite some fluctuations, the export and import of computer software services increased by 2.79 per cent, demonstrating resilience in this segment. However, the export of repair and maintenance services experienced a decline of 39.15 per cent during the same period.

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Moreover, while the export of information services saw a slight decrease of 19.72 per cent, some sub-categories within this segment experienced growth. Notably, information-related services increased by 3.64 per cent, while news agency services faced a decline.

The data also revealed a positive trend in telecommunication services, with exports increasing by 3.89 per cent. Call center services, in particular, saw a substantial increase of 12.14 per cent, contributing to the overall growth in this sector.