Pakistan has recorded a milestone in its Information Technology (IT) sector, reporting a revenue of US $1,151.956 million from various IT services during the initial five months of the fiscal year 2023-24.
This reflects a noteworthy growth of 5.89%, surpassing the US $1,087.929 million earned in the corresponding period of the previous fiscal year, according to the latest data from the Pakistan Bureau of Statistics (PBS).
Breaking down the numbers, the export of computer services experienced a substantial 8.17% increase, reaching US $935.016 million compared to last year’s US $864.429 million, covering the months from July to November 2023.
Within the realm of computer services, software consultancy services took the lead with an impressive 46.67% surge, escalating from US $1.710 million to US $2.508 million in the current fiscal year. Similarly, hardware consultancy services demonstrated positive momentum, posting a 4.15% increase from US $318.041 million to US $331.231 million.
Conversely, the export of repair and maintenance services faced a decline of 40.74%, dropping from US $1.485 million to US $0.880 million. On a positive note, export and imports of computer software services increased by 4.05%, rising from $239.473 million to $249.179 million.
Shifting focus to information services, there was a decline of 22.91%, with exports falling from US $1.790 million to US $1.380 million during the reviewed period.
Within the information services category, exports related to information witnessed a growth of 12.37%, increasing from US $0.485 million to US $0.545 million. In contrast, news agency services saw a decline of 36.02%, dropping from US $1.305 million to US $0.835 million.
The export of telecommunication services experienced a modest decrease of 2.77%, declining from US $221.710 million to US $215.560 million, according to PBS data.
Delving deeper into telecommunication services, call center services recorded an 11.11% increase in exports, rising from US $87.327 million to US $97.026 million. Meanwhile, other telecommunication services witnessed a decrease of 11.798%, falling from US $134.383 million to US $118.534 million during the current fiscal year.
Pakistan’s consistent growth in the IT sector highlights its evolving global significance as a premier provider of high-quality IT services, affirming its commitment to excellence in the international market.
