Pakistan’s earns $286 million from IT services' export

ISLAMABAD: Pakistan earned US $ 286 million by providing different information technology (IT) services in various countries during the first two months of fiscal year 2020-21.

This shows growth of 35.58 percent when compared to US $ 210.940 million earned through provision of services during the corresponding period of last fiscal year 2019-20, Pakistan Bureau of Statistics (PBS) reported.

During the period under review, the computer services grew by 37.27 percent as it surged from US $162.300 million last year to US $222.790 million during July-August (2020-21).

Among the computer services, the exports of software consultancy services witnessed increase of 16.10 percent, from US $62.468 million to US $72.526 million while the export of hardware consultancy services however witnessed decrease of 76.01 percent, from US $ 0.321 million to US $ 0.077 million.

The export of repair and maintenance services also decline by 86.27 percent from US $ 0.517 million to US $0.071 million whereas the export and imports of computer software services witnessed increase of 13.86 percent, from $ 49.854 million to $56.762 million.

In addition the exports of other computer services rose by 89.98 percent from US$ 49.140 million to US $93.354 million.

Meanwhile, the export of information services during the period under review increased by 65.52 percent by going up from US $ 0.290 million to US $ 0.480 million.

Among the information services, the exports of news agency services also increased by 133 percent, from US $0.100 million to US $0.233 million whereas the exports of other information services rose by 30 percent, from US $ 0.190 million to US $ 0.247 million.

The export of telecommunication services increased by 29.74 percent as these went up from US $48.350 million to US $62.730 million, the data revealed.

Among the telecommunication services, the export of call centres services increased by 23.19 percent during the period as its exports increased from US $16.148 million to US $19.892 million whereas the export of other telecommunication services also increased by 33.03 percent, from US $32.202 million to US $42.838 million during last year, the PBS data revealed.

It is pertinent to mention here that the country’s services trade deficit contracted by 50.41 percent during the first two months of the current financial year (2019-20) as compared to the corresponding period of last year.

During the period from July-August 2020-21, services exports decreased by 14.26 percent, whereas imports reduced by 32.81 percent, according the data released by Pakistan Bureau of Statistics.

The services worth US $ 758 million exported during the period under review as compared the exports of US $ 884.14 million in same period of last year, whereas imports of services into the country was recorded at US $ 1220.12 million as against the imports of US $1815.91 million, the data revealed.