Export of IT services earns over $1bn

ISLAMABAD: Pakistan earned $1008.490 million by providing different information technology (IT) services in various countries during the first eleven months of the fiscal year 2018-19.

This shows growth of 4.37 percent when compared to $966.240 million earned through provision of services during the corresponding period of fiscal year 2017-18, Pakistan Bureau of Statistics (PBS) reported.

During the period under review, the computer services grew by 12.21 percent, from $654.170 million last year to $734.020 million during July-May (2018-19).

Among the computer services, the exports of software consultancy services and repair and maintenance of computers related services increased by 26.87 percent and 231.93 percent respectively. In addition, the other computer services increased by 34.77 percent.

The exports of call centers services also increased by 7.95 percent, from $93.039 million to $100.436 million whereas the exports other information services increased by 53.28 percent from $1.068 million to $1.637 million.

The exports of information services during the period under review increased by 14.87 percent by going up from $1.950 million to $2.240 million.

Among the information services, the exports of news agency services decreased by 31.63 percent, from $0.882 million to $0.603 million whereas the exports of other information services increased by 53.28 percent, from $1068 million to $1637 million.

Meanwhile, the telecommunication services decreased by 20.86 percent, from $217.081 million to 171.794 million during current period, the data revealed.

The hardware consultancy services exports’, also decreased by 40.36 percent during the period as its exports declined from $3.932 million to $2.345 million, the PBS data revealed.

It is pertinent to mention here that the country’s services trade deficit narrowed by 28.22 per cent during the first eleven months of the current fiscal year compared to the corresponding period of last year.

The services trade deficit during July-May (2018-19) was recorded at US$ 3.944 billion against the deficit of US$ 5.496 billion during July-May (2017-18), showing decline of 28.22 per cent, the official data revealed.

The services’ imports into the country during the period under review decreased by 14.45 per cent to US $8.837 billion from US $10.330 billion last year.

On the other hand, the exports of services from the country witnessed an increase of 1.21 per cent during the period. The services exports during the first eleven months of the current fiscal year were recorded at US$ 4.892 billion against the exports of US$4.834 billion during the same period of last year...