Like its neighbor India, Pakistan has long been known for its IT services throughout the world. International businesses increasingly outsource all of their IT services to emerging nations due to lower costs and better human resources. As a result, Pakistan’s exports of IT services have significantly increased over time. Despite the severe economic downturn, the IT service export industry had a record fiscal year 2021–2022 with total revenues of almost $2,615 million.
The fact that these figures represent a 24% rise over the IT service exports of the previous year, which stayed at $2,107 million in 2021–20, is even more impressive.
The Pakistan Bureau of Statistics (PBS) released comprehensive data on the IT sector, including the revenue generated by each sub-sector, including Computer Services, IT Services, Telecom Services, and Software Services. Let’s talk about each of them as well as break them down into specific data.
The Pakistani IT export sector performed remarkably well in the computer services sector, which showed an astounding 26.40 percent rise. The sector’s entire revenue increased from $1,666.310 million in the previous fiscal year to $2,106.145 million this year. The largest export of computer services was software consulting, which saw a growth of 43.43 percent, going from $554.612 million to $795.480 million. Hardware consulting services increased by a staggering 429.58%, from $0.551 million to $2.918 million.
Software has grown significantly over time; it is now nearly a gold mine and a fantastic opportunity for nations that export IT, like Pakistan. In this fiscal year, the export of software-related services increased by 34.87 percent in Pakistan. The total increased to $563.071 million this year from $417.485 million last year, which is still a respectable gain.
Although Pakistan’s domestic telecom sector may be in trouble, with a growth of 15.30 percent, telecom service exporters appear to be doing well. In this fiscal year, the telecommunication export service sector increased from $437.500 million in 2021 to $504.440 million. Familiar call center services saw the largest increase, up 39.43% from $154.554 million to $215.501 million.