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).