IT exports remittance increases by 2.38% in 1st half of 2022-23

F.P. Report

ISLAMABAD: The Information Technology (IT) exports remittance including telecommunication, computer and information services during the six months (July to December) of the current fiscal year 2022-23 recorded US$1.333 billion growing by 2.38 percent in comparison to US$ 1.302 billion during the same period last year.

Despite persistent ease of doing business challenges, ICT export remittances of US$ 1.333 billion have been realized by the IT & ITeS Industry during the period July to December of FY2022-23, an increase of 2.38% in comparison to US$ 1.302 billion reported for the same period last year said the data shared by Ministry of Information Technology and telecommunication here on Saturday.

Trade surplus of US$ 1.166 billion (87.47% of total ICT export remittances) has been realized by the IT & ITeS Industry during the period July to December of FY2022-23 to meet the foreign currency crunch faced by the country, an increase of 19.96% as compared to trade surplus of US$ 972 million for the same period in FY2021-22. ICT sector exports of US$ 1.333 billion are the highest among all Services (37.8% of total export of services) with ‘Other Business Services’ trailing at US$ 816 million.

ICT services have delivered a phenomenal trade surplus of US$ 1.166 billion which is the highest among all Services with ‘Other Business Services’ trailing at US$ 201 million. (APP)