Saturday, March 25, 2023

Computer services exports increased by 50% to $1.66 billion

In accordance with recent statistics published by the State Bank of Pakistan for the year ending June 30, 2021, Pakistan’s exports of information and communication technologies (ICT) services have breached a $2 billion barrier. This has stimulated excitement over the potential of digital services to improve the export profile of Pakistan.

To be honest, during the FY 21 the ICT exports had a substantial 47% annual rise, or 683 million more than in FY 20, at 2,12 billion dollars. As a consequence, ICT exports grew from 5 percent in FY20 to 7 percent in FY21 in overall exports of goods and services.

It was the “computer services,” which accounted for 82% of ICT’s 683 million dollars annually in FY21 exports. The yearly exports clocked at $1.66 billion for this specific service and demonstrated a healthy 50% increase compared to the fiscal year20.

Within ‘Computing’ services, there was yearly increase of 36% 25% and 84% in each of the three main sections, namely software consultation (US$ 554 million), computer software exports (US$ 417 million) and other computer services (US$ 694 million).

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