Pakistan IT industry is doing well in terms of computer services exports as it have seen a boost of 32.11% during the first two months of the present fiscal year 2017-18, in contrast to the last year.
The report of Pakistan Bureau of Statistics (PBS) claimed that Pakistan has received $111.38 million in favor of the services worth $84.31 million during the particular time period.
Minister for IT Anusha Rehman said that during the last 4 years, IT Industry has contributed 98% to Pakistan’s economy by foreign exchange earnings, which is great contribution and positive gesture for IT industry.
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IT industry in Pakistan is at its boom as Pakistan has earned $54.37m by means of exporting software consultancy services, showing growth of 69.22 % which is impressive as compared to exports of $32.126m previous year.
According to the data revealed by PBS, hardware consultancy services exports have also seen an increase of 144.41 percent to $0.72 million as compared to the last year’s export of $0.3 million of the same services.
In the same way, the maintenance and repair services for computers also got a small raise of $0.39 million as compared to $0.23 million of last year, presenting growth of 68.97 million.
If we go through the whole scenario of the exports of the country then we can observe a decline by 12% in the past fiscal year 2015-16, despite the fact that the current fiscal year seems to make better by the export services of IT and Telecom industry.
On the other hand, the trade of computer software services experienced a downbeat growth of 1.01% during first two months, waning to $40.766 million this year from $41.181 million during the last year.
Though, the export of telecommunication services didn’t turn out to be a success story for Pakistan. The export of telecom services from the country decreased by 0.93 percent by going down from the trade of $63.43 million last year to $62.84 million during the current fiscal year.
It is pertinent to mention here that general services exports from Pakistan have seen a huge increase by 4.94% during the time period under analysis as compare to the similar period of last year.
With this significant boost of $816.27 million of this year, in contrast to the exports of 777.84 million in previous year, the country certainly got a great potential in its IT and Telecom sector and flourishing in this era of digitalization. It’s good to know that Pakistan is on the way of nailing the world in respective field.