Pakistan earns $1.7 billion from IT services export in 7 months

Pakistan earns $1.7 billion from IT services export in 7 months

According to a report, Pakistan generated a revenue of US $1.719 billion by offering various Information Technology (IT) services to different countries in the first seven months of the fiscal year 2023-24.

This indicates a growth of 12.78 percent compared to the US $1,524.969 million earned in the same period of the previous fiscal year 2022-23, as reported by the Pakistan Bureau of Statistics (PBS).

During the review period, the export of computer services increased by 14.09 percent, rising from US $1,224.499 million last year to US $1,397.051 million in July-January 2023-24.

Among computer services, the export of software consultancy services saw a slight increase of 1.14 percent, from US $3.502 million to US $3.542 million this year. Similarly, the export of hardware consultancy services also grew by 4.73 percent, from US $454.283 million to US $475.783 million.

However, the export of repair and maintenance services decreased by 12.17 percent, from US $1.594 million to US $1.400 million. On the other hand, the export and imports of computer software services increased by 2.71 percent, from $349.635 million to $359.094 million.

Meanwhile, the export of information services during the review period declined by 19.62 percent, from US $2.600 million to US $2.090 million.

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