Pakistan’s IT Services Exports Surge to $1.45 Billion in First Half of Fiscal Year 2023-24

Pakistan’s Information Technology (IT) sector continues to demonstrate robust growth, as evidenced by the country’s earnings of US $1,454.881 million from the provision of various IT services to global markets during the initial six months of the fiscal year 2023-24. This marks a significant increase of 8.98 percent compared to the corresponding period in the previous fiscal year.

According to data released by the Pakistan Bureau of Statistics (PBS), the export of computer services experienced notable growth, rising by 10.32 percent from US $1,064.579 million to US $1,174.481 million during July-December 2023-24. Within this category, while software consultancy services witnessed a slight decrease of 180 percent, hardware consultancy services saw an uptick of 3.401 percent.

However, the export of repair and maintenance services witnessed a decline of 39.15 percent, dropping from US $1.530 million to US $0.930 million. Similarly, the export and import of computer software services increased marginally by 2.79 percent, from $302.376 million to $310.807 million.

In terms of information services, exports experienced a dip of 19.72 percent, decreasing from US $2.180 million to US $1.750 million during the same period. Notably, while information-related services saw an increase of 3.64 percent, news agency services witnessed a decline of 30.48 percent.

Meanwhile, the export of telecommunication services demonstrated a rise of 3.89 percent, climbing from US $268.0210 million to US $278.650 million. Within this category, call center services experienced a notable surge of 12.14 percent, while other telecommunication services saw a slight decrease of 1.58 percent.

The data reflects Pakistan’s growing prowess in the global IT services market, underscored by the consistent expansion of export revenues across various IT service segments. The sector’s resilience and capacity for innovation bode well for the country’s economic growth trajectory, positioning Pakistan as a competitive player in the international IT landscape. Continued investment in technological infrastructure and talent development remains critical to sustaining this positive momentum and further capitalizing on the opportunities presented by the digital economy.