Pakistan Earns US $444.050 Million From IT Services' Export During Q1 Of FY 2020-21

Pakistan earns US $444.050 million from IT services' export  during Q1 of FY 2020-21

ISLAMABAD, (UrduPoint / Pakistan Point News - 4th Dec, 2020 ) :Pakistan has earned US $444.050 million by providing different information technology (IT) services in various countries during the first quarter (Q1) of financial year 2020-21.

This shows growth of 41.01 percent when compared to US $314.900 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 46.38 percent as it surged from US $237.400 million last year to US $ 347.500 million during July-September (2020-21).

Among the computer services, the exports of software consultancy services witnessed increase of 26.05 percent, from US $ 91.532 million to US $115.379 million while the export and import of computer software related services also rose by 21.90 percent, from US $71.638 million to US $ 87.325 million.

The exports of hardware consultancy services decreased by 60 percent from, US $0.345 million to US $0.138 million whereas the exports of repair and maintenance services also decline by 76.19 percent from $0.609 million to $0.145 million.

In addition the exports of other computer services rose by 97.22 percent from US$73.276 million to US $144.513 million.

Meanwhile, the export of information services during the period under review increased by 28.81 percent by going up from US $ 0.590 million to US $0.760 million.

Among the information services, the exports of news agency services increased by 15.

45 percent, from US $ 0.356 million to US $ 0.411 million whereas the exports of other information services also increased by 49.15 percent, from US $ 0.234 million to US $ 0.349 million.

The export of telecommunication services also witness an increase of 24.55 percent as these went up from US $76.910 million to 95.790 million during the fiscal year under review, the data revealed.

Among the telecommunication services, the export of call centre services increased by 18.53 percent during the period as its exports increased from US $ 26.787 million to US $ 31.751 million whereas the export of other telecommunication services also increased by 27.76 percent, from US $50.123 million to US $64.039 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 quarter of fiscal year (2020-21) decreased by 50.91 percent as compared to the corresponding period of last year.

During the period from July-September, 2020-21, services exports decreased by 5.40 percent, whereas imports reduced by 26.28 percent, according the data released by Pakistan Bureau of Statistics.

The services worth US $ 1.225 billion exported during the period under review as compared the exports of US $ 1.295 billion in same period of last year, whereas imports of services into the country was recorded at US $ 1.764 billion as against the imports of US $ 2.393 billion, the data revealed.

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