KARACHI: Exports of telecommunications, computer and information services increased by almost 48 per cent to $1.908 billion during first 11 months of this fiscal year compared to $1.29bn in 11MFY20, State Bank’s latest data showed on Friday.
In May alone, export earnings from this relatively new sector stood at $200 million compared to $196m in April. It recorded a 66pc growth year-on-year from $118m in April 2020.
Commerce Adviser Razak Dawood said that the ICT and telecom exports now look set to breach the $2bn mark for the first time in history.
In the first quarter July-Sept of the current fiscal the exports from ICT and telecom were $445m which gradually increased each quarter. The export rose to $514m during Oct-Dec and $553m during Jan-March FY21.
While the commerce ministry assured its full support for the development and exports of ICT and telecom, the Covid also played a role for the growth. The communication gap due to pandemic crisis allowed the sector to fill the gap and maximise its business.
Though the size of imports of ICT and telecom was remained at lower side but still the growth during the 11 months was 45pc. The import of the sector during July-May FY21 was 493m against $340m in the same period of last fiscal year.
Published in Dawn, June 26th, 2021