INP-WealthPk

ICT Exports Surge 29.29% in 10 Months

May 30, 2022

Aitizaz Hassan ISLAMABAD, May 30 (INP-WealthPK): ICT export remittances – including telecommunication, computer and information services – grew 29.29% to USD2.198 billion in 10 months of (July 2021-April 2022) of fiscal year 2021-22 as against USD1.7 billion during the same period in FY2020-21, reports WealthPK. According to the Ministry of IT and Telecom, ICT export remittances grew 29.02% in April 2022 reaching USD249 million in comparison with USD193 million reported for the month of April 2021. However, in comparison with export remittances of USD260 million during the previous month of March 2022, the remittances in April 2022 were lower by USD11 million. Net exports in 10 months of the FY2021-22 were USD1.665 billion which was 75.75% of USD2.198 billion in ICT exports. Last year, the net exports for the same period were USD1.274 billion which was 74.94% of USD1.7 billion in ICT exports. ICT exports posted $260 million in March, registering a 30% growth compared with February 2022. Similarly, overall telecommunication services exports were $46 million in March 2022 compared with $38 million in February 2022, registering a growth of 21%. Telecom services export posted $28 million in March 2022 compared with $22 million in February, registering a 27.2% growth. Call center services were $18.7 million in March 2022 compared with $16.7 million in February 2022, registering a growth of 12%. Similarly, computer services were $211.5 million in March 2022 compared to $161.7 million in February 2022, registering a growth of 30.79%. In computer exports, the hardware consultancy services were $0.183 million in March 2022 compared with $0.105 million in February 2022, registering a growth of 74.2%. Software consultancy services were $81.5 million in March 2022 compared to $66.3 million in February 2022, registering a growth of 22.9%. Maintenance and computer repair services were worth $0.354 million in March 2022 compared with $0.06 million in the previous month. Information services posted $0.670 million in March 2022 compared with $0.360 million in February 2022, registering a growth of 86.1%. In information exports, the news agency services were worth $0.506 million in March 2022 compared to $0.227 million in February 2022, registering a 122.9% growth.