Pakistan IT Exports Up 32.6% in Q1 FY 2012
Pakistan’s exports of IT and IT-enabled services witnessed an outstanding growth of 32.6 percent in the first quarter of 2011-12 compared with the corresponding period of past financial year, reflecting improving penetration of local IT companies in different countries of the world.
State Bank of Pakistan (SBP) statistics showed that Pakistan IT and ITES exports increased to reach US $ 61 million in Jul-Sep 2011 versus US $ 45 million exports recorded in the same period of 2010.
The SBP’s statistics showed exports earning remitted into country from various regions however exports were estimated to reach US $ 244 million in accordance with WTO formula.
Pakistan exports software based IT solutions, financial and mobile applications, BPOs services and infrastructure development support services to different countries.
Industry experts said that the achievement of growth in exports value is quite good for the industry in the scenario when global downturn has exerted its impacts on IT and other industries worldwide.
They said that exports growth is likely to recover its 50 percent benchmark by the next year with the recovery of global economies of EU bloc and USA.
They said that the exports have been shifted from US, UK and Middle East markets slightly to African markets, which are considered as lucrative for Pakistan IT firms particularly the south part where the infrastructure development has witnessed enormous growth lately.
Pakistan’s ICT companies have sought potential in developing markets of African countries to pace up the growth of its overseas businesses with handsome revenues.
The countries are Kenya, Ghana, Uganda, Nigeria where basic communication network and financial services are being developed by their respective governments, private sectors and international donors like World Bank.
Most of the Pakistani companies are working for financial institutions, automobile, call centers and miscellaneous services sectors in different countries.
United State of America is the largest buyer of Pakistan’s IT-enable service having lion share in country’s exports. It is followed by UK, where the exports are hovering around 10 percent. The pie of total exports shows 16 percent share of other countries including Australia, Canada, Thailand, UAE, Ghana and others.
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