Pakistan has witnessed $517.630 million in revenues collected from IT Exports to various countries during the first five months of the current fiscal year FY2019-20.
It was a great sign of progress that witnessed 18.46 percent growth as compared to $436.970 million which was earned during the first five years of the previous FY2018-19 according to Pakistan Bureau of Statistics (PBS).
During the period under discussion, computer services grew by 24.60 percent, the revenues increased from $316.350 million to $394.160 million during the first five months July-Nov FY 2019-20. Also, the software consultancy services grew by 11.72 percent from $142.595 million to $159.303 million.
Moreover, the exports of computer software-related services grew by 8.17 percent from $119.127 million to $128.860 million.
However, the export of hardware consultancy services saw a plunge of 25.7 percent from $0.704 million to $0.523 million. Similarly, the export of maintenance and computer repair service also plunged to $1.073 million from the previous $2.886 million which saw a huge dent on the revenues of 62.82 percent. Pakistan’s skillset is more inclined towards exporting software consultancy related products and services. That is why the country is seeing a sharp increase in those services.