Pakistan's IT Services Exports Surge to $297 Million in July 2024, Marking a 32.46% Growth

Pakistan’s Information Technology (IT) sector has made significant strides in the first month of the fiscal year 2024-25, with the country’s IT services exports reaching an impressive $297 million in July 2024. This represents a substantial 32.46% increase compared to the $224.95 million earned in the same period of the previous fiscal year, according to the Pakistan Bureau of Statistics (PBS).

Growth in Computer Services

A major contributor to this growth was the surge in computer services exports, which saw a 23.09% increase from $187.47 million in July 2023 to $230.75 million in July 2024. Within the computer services category, software consultancy services experienced a notable rise, growing by 24.53%. Exports in this segment jumped from $62.78 million to $77.26 million during the same period.

Interestingly, hardware consultancy services also saw an exceptional increase of 189.32%, with exports climbing from $0.067 million to $0.677 million. Despite this overall growth, some segments within the computer services sector saw declines. For instance, repair and maintenance services exports decreased by 6.06%, from $0.033 million to $0.031 million. Similarly, exports of computer software services dipped by 13.36%, falling from $57.98 million to $50.23 million.

On the positive side, other computer services exports grew significantly, posting a 52.65% increase from $67.18 million to $102.55 million.

Decline in Information Services

In contrast to the robust performance of computer services, the export of information services during July 2024 witnessed a steep decline of 80.39%, dropping from $1.02 million in the previous year to just $0.20 million. Within this category, the exports of news agency services fell sharply by 89.03%, from $0.939 million to $0.103 million. However, there was a slight increase in other information services, which grew by 19.75%, from $0.081 million to $0.097 million.

Telecommunication Services Show Strong Growth

Telecommunication services also played a vital role in boosting Pakistan’s IT export revenues, with a remarkable growth of 83.79%. The sector’s exports increased from $36.46 million in July 2023 to $67.01 million in July 2024. Within this category, call center services experienced a 49.55% rise, with exports growing from $17.01 million to $25.44 million. Additionally, other telecommunication services exports more than doubled, increasing by 113.74%, from $19.45 million to $41.47 million.

Pakistan’s IT sector continues to demonstrate strong growth, driven by increasing demand for computer and telecommunication services. The significant rise in IT exports highlights the sector’s potential as a key driver of economic growth in the country. However, the decline in certain segments, such as information services, underscores the need for targeted strategies to maintain and expand this upward trajectory. As the global demand for IT services continues to rise, Pakistan’s IT industry is well-positioned to capitalize on this trend, further strengthening its role in the international market.