Pakistan’s tech sector earns nearly $450 million in two months

WEB DESK: In the first two months of the fiscal year 2023–24, Pakistan’s information technology (IT) services sector demonstrated robust growth, generating revenue of $448.971 million through operations in various countries.

This marked a substantial 5.15 per cent increase from the previous fiscal year’s earnings of US $427.000 million, as reported by the Pakistan Bureau of Statistics (PBS).

The export of computer services experienced a significant uptick, rising by 4.65 per cent from US $345.470 million in the corresponding months of the previous year to US $361.518 million in July–August 2023.

Within this category, software consulting services saw an impressive surge, soaring by 196.04 per cent from US $0.328 million to US $0.971 million.

Additionally, hardware consultancy services also exhibited growth, increasing by 4.60 per cent from US $121.733 million to US $127.329 million.

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Conversely, the export of repair and maintenance services slightly declined by 3.74 per cent, from US $0.187 million to US $0.180 million. However, the trade in computer software services experienced a notable boost, witnessing a 10.17 per cent increase from US $96.529 million to $106.350 million.

During this period, the export of information services faced a decline of 27.94 per cent, dropping from US $0.680 million to US $0.490 million. Within this category, information-related services decreased by 4.05 per cent, falling from US $0.222 million to US $0.213 million.

Likewise, news agency services saw a notable dip of 39.52 per cent, declining from US $0.458 million to US $0.277 million.

On the other hand, telecommunication services exhibited positive growth, increasing by 7.56 per cent from US $80.850 million to US $86.963 million. Specifically, call centre services experienced a 3.47 per cent increase, rising from US $34.770 million to US $35.977 million.

Moreover, other telecommunication services recorded a substantial growth of 10.65 per cent, surging from US $46.080 million to US $50.986 million during this period, according to the data provided by PBS.