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Pakistan’s earns the US $595 million from IT services’ export in four-month - Inside Financial Markets

Pakistan’s earns the US $595 million from IT services’ export in four-month

– Associated Press of Pakistan

Pakistan earned US $595.080 million by providing different information technology (IT) services in various countries during the first four months of financial year 2020-21.

This shows growth of 35.91 percent when compared to US $437.860 million earned through provision of services during the corresponding period of fiscal year 2019-20, Pakistan Bureau of Statistics (PBS) reported.

During the period under review, the computer services grew by 39.35 percent as it surged from US $334.980 million last year to US $466.810 million during July-October (2020-21).

Among the computer services, the exports of software consultancy services witnessed increase of 20.12 percent, from US $129.950 million to US $156.101 million while the export and import of computer software related services also rose by 15.87 percent, from US $99.322 million to US $115.080 million.

The exports of hardware consultancy services decreased by 55.20 percent from, US $0.442 million to US $0.198 million whereas the exports of repair and maintenance services also decline by 76.42 percent from $0.759 million to $0.179 million

In addition the exports of other computer services rose by 86.83 percent from US$104.507 million to US $195.252 million.

Meanwhile, the export of information services during the period under review increased by 60.56 percent by going up from US $ 0.710 million to US $1.140 million.

Among the information services, the exports of news agency services increased by 45.84 percent, from US $ 0.397 million to US $ 0.579 million whereas the exports of other information services also increased by 79.23 percent, from US $ 0.313 million to US $ 0.561 million.

The export of telecommunication services also witness an increase of 24.43 percent as these went up from US $102.170 million to 127.130 million during the fiscal year under review, the data revealed.

Among the telecommunication services, the export of call center services increased by 19.96 percent during the period as its exports increased from US $ 36.344 million to US $43.599 million whereas the export of other telecommunication services also increased by 26.90 percent, from US $65.826 million to US $83.531 million during the period under review, the PBS data revealed.

It is pertinent to mention here that the services trade deficit of the country during the first four months of fiscal year (2020-21) decreased by 38.18 percent as compared to the corresponding period of last year.

During the period from July-October, 2020-21, services exports decreased by 11.45 percent, whereas imports reduced by 22.38 percent, according the data released by Pakistan Bureau of Statistics.

The services worth US $ 1.625 billion exported during the period under review as compared the exports of US $ 1.835 billion in same period of last year, whereas imports of services into the country was recorded at US $ 2.410 billion as against the imports of US $ 3.105 billion, the data revealed.

Syed Zaki Hussain

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