ISLAMABAD – The exports of IT and IT-related services increased to $1.090billion in the financial year 2018-19 as compared to $1.065 billionrecorded in the financial year 2017-18, showing a modest growth of 2.44%,according to data released by the State Bank of Pakistan.
This is the third consecutive record of the IT industry for attaining anall-time high. The country also achieved the highest value of ITremittances during the financial year 2018-19.
The value of IT exports is three times higher than the remittances reportedby the central bank, which means the overall number crossed $3 billion inthe financial year.
As for the sector’s composition, export revenues of 35% or nearly $355million of the total 3,228 ICT exporting entities came from computersoftware, including software consultancy services.
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Whereas the rest had either limited or no product orientation, as theygenerated revenues only from low value-added services (e.g. call centers),according to a study of SBP.
