Pakistan’s service exports increase by 6pc, hit $2.7bln in the first half of FY19/20
Exports of hardware, software, maintenance and repairs services also witnessed a considerable increase.
In an optimistic development, Pakistan’s services exports have increased by 6pc, hitting the $2.7bln mark in the first half of the ongoing financial year. The statistics were revealed in the recently released report by the Pakistan Bureau of Statistics (PBS).
The data showed that Pakistan’s telecommunication, computer and information services’ exports have shown a remarkable increase. The exports in the mentioned sectors were recorded at $652.7 million in the July-December period of 2019, showing a growth of 22 per cent compared to the previous year.
Revenue from call centres:
The revenue generated through the export of telecommunication services, mainly through call centres, witnessed a significant growth of 12 per cent. On the other hand, exports of hardware, software, maintenance and repairs services also witnessed a considerable increase.
The services’ exports account for over 60 per cent of Pakistan’s economy. The contribution made by the sector holds immense significance to increase the foreign exchange revenue in the country.
Exports of research and development services:
The exports of development services and research, including auditing, accounting and public relations were valued at $701.8 million for the July-December period. The figure showed a minor increase as compared to the previous year, where the value was $694.9 million.
Embassies and consulates also contributed significantly (as the exports revenue, mainly generated by providing services abroad) was valued at $598.9 million. However, the figures saw an 8 per cent decrease compared to the previous year, where the value was $651.1 million.
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