IT exports increase by 32.65% in seven months

Islamabad: The Information Technology (IT) exports have surged at the growth rate of 32.65% in the first seven months of the current financial year.

“ICT export remittances, including telecommunication, computer, and information services for the period July 2021 to January 2022 during Financial Year (FY) 2021-22 have surged to the US $1.487 billion at a growth rate of 32.65% in comparison to the US $1.121 billion during the same period in FY 2020-21, said an official of the ministry of IT and Telecom.

He said that in January 2022, the ICT export remittances are the US $185 million at a growth rate of 14.2% when compared to US$ 162 million reported for the month of January 2021.

However, $66 million was lower than export remittances during the previous month December 2021. The net exports for the period July 2021 to January 2022 during FY2021-22 are US$ 1.116 billion which is 75.05% of US$ 1.487 billion in exports.

Last year, for the same period the net exports were US$ 804 million which was 71.72% of US$ 1.121 billion in exports.

SOURCE: APP