Pakistan’s Earns US $1438 Million from IT Services’ Export during FY 2019-20

Pakistan earned US$ 1438,827 million in July-June (2019-20) by offering various IT services in various countries.

It reveals a growth of 20.72% compared to US$ 1191.864 million received via service delivery during the corresponding fiscal year period 2018-19, reported by the Pakistan Statistics Bureau (PBS).

Computer services increased by 23.44% during the time under review as they rose from last year’s US$ 895.990 million to US$ 1106.027 million during July-June (2019-20).

Hardware consulting services ‘exports decreased by 16.55 from US$ 2.345 million to US$ 1.957 million, while other computer services’ exports increased by 51.91% from US$ 247.976 million to US$ 376.699 million. However, exports of repair and maintenance services also experience a 74.97% decline from $6.037 million to $1.511 million.

The PBS data showed that among telecommunications services, call center services exports increased by 26.17% over the period as their exports increased from US$ 98.858 million to US$ 124.730 million, while other telecommunications services also increased by 5.16%, from US$ 195.436 million to US$ 205.520 million over the period under review.

 It is important to note here that the country’s trade deficit in services decreased by 42.96% during the fiscal year (2019-20) compared with the same period last year. Exports of services decreased by 8.66 per cent over the period July-June 2019-20, while imports decreased by 24.25%.

During the period under review, services worth US$ 5,449 billion were exported as compared to exports of US$ 5,966 billion in the same period last year, while imports of services into the country were reported at US$ 8,284 billion compared to imports of US$ 10,936 billion.

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