Pakistan’s information technology (IT) sector is experiencing a boom, with exports of IT services reaching $1.72 billion during the first seven months of the current fiscal year (July 2023 – January 2024). This represents a significant increase of 12.78% compared to the same period in the previous fiscal year.
The Pakistan Bureau of Statistics (PBS) reported this positive trend, highlighting a surge in computer services exports, which grew by 14.09% to $1.397 billion. This growth is likely driven by a combination of factors, including increased global demand for IT services and the continued development of Pakistan’s IT infrastructure and talent pool.
Breaking down the numbers further reveals growth across various IT sub-sectors:
- Software Consultancy: A modest yet positive increase of 1.14%, rising from $3.50 million to $3.54 million.
- Hardware Consultancy: A more significant rise of 4.73%, climbing from $454.28 million to $475.78 million.
- Export & Import of Computer Software: A growth of 2.71%, reaching $359.09 million from $349.64 million.
- Telecommunication Services: A healthy increase of 7.69%, reaching $320.78 million from $297.87 million.
Islamabad Gets a New Face in MARGO-The Official Mascot
While the overall picture is positive, the report also identifies a decline in exports of information services by 19.62%, dropping from $2.60 million to $2.09 million. This decrease is primarily attributed to a 29.29% drop in news agency services exports. However, information-related services did see a slight increase of 1.99%.
The strong performance of Pakistan’s IT sector during the first half of the fiscal year suggests a promising future for the industry. Continued investment in infrastructure, talent development, and innovation can further propel this sector’s growth and establish Pakistan as a major player in the global IT landscape.
