KARACHI: Telecommunications, computer, and information services exports climbed by about 48% to $1.908 billion in the first 11 months of this fiscal year, compared to $1.29 billion in 11MFY20, according to State Bank data released on Friday.
Export revenues from this relatively young sector reached $200 million in May, up from $196 million in April. It increased by 66 percent year over year from $118 million in April 2020.
According to Commerce Adviser Razak Dawood, ICT and telecom exports are on track to surpass $2 billion for the first time in history.
ICT and telecom exports totaled $445 million in the first quarter of this fiscal year, up from $445 million the previous quarter. Exports increased to $514 million in October-December and $553 million in January-March of FY21.
While the commerce ministry pledged its full support for ICT and telecom development and exports, the Covid also contributed to the expansion. The sector was able to fill the communication gap created by the pandemic outbreak and maximise its business.
Despite the fact that the size of ICT and telecom imports has remained on the lower side, the growth rate over the last 11 months has been 45 percent. The sector’s imports were $493 million in July-May FY21, compared to $340 million in the same period the previous fiscal year.