Thursday, July 25, 2024

Pakistan Earned $1,523 Million by Providing IT Services to Various Countries: Report

Pakistan’s IT sector is on the rise, as it has earned $1,523.280 million by providing different IT services to various countries during the first seven months of the current fiscal year 2022-23, according to the Pakistan Bureau of Statistics (PBS). This represents a growth of 2.38% as compared to the same period last year. The country’s export of computer services climbed by 2.87%, from $1,191.575 million to $1,225.730 million.

The exports of software consultancy services also saw a significant increase of 5.57%, from $430.309 million to $454.283 million, while the exports of hardware consultancy services rose by a whopping 158.07%, from $1.357 million to $3.502 million. This growth is a testament to the quality of Pakistan’s IT services and the confidence that international markets have in its industry.

The export and import of computer software-related services also surged by 11.89%, from $312.484 million to $349.635 million. Moreover, the exports of repair and maintenance services increased to $1.594 million from $0.770 million, indicating a growing demand for Pakistan’s IT services.

Telecommunication services also witnessed an increase of 0.60%, with call center services rising by 2.30%, from $118.669 million to $121.398 million, and other telecommunication services decreasing by 0.55%, from $174.511 million to $173.552 million. This indicates that Pakistan’s telecommunication services are growing at a steady pace.

However, the exports of other computer services witnessed a decline of 6.70%, going down from $446.655 million to $416.716 million. Similarly, the export of information services during the period under review declined by 16.40%, going down from $3.110 million to $2.600 million.

Pakistan’s IT sector has shown significant growth in recent years, and the country is fast becoming a hub for outsourcing IT services. With the industry’s continued growth and the government’s support, Pakistan’s IT exports are expected to reach new heights in the coming years. The country’s talented workforce, coupled with its competitive prices, make it an attractive destination for outsourcing IT services. As the world becomes increasingly reliant on technology, Pakistan’s IT industry is well-positioned to reap the benefits of this trend.

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