Pakistan IT Exports Up 32.6% in first quarter of 2011-12 fiscal year

SBP statistics show IT and ITES exports increased to $61 million in Jul-Sep 2011.

Pakistan’s exports of IT and IT-enabled services witnessed an outstanding growth of 32.6% in the first quarter of 2011-12 compared with the corresponding period of the previous 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 $61 million in Jul-Sep 2011 versus $45 million exports recorded in the same period of 2010.

The SBP statistics showed export earning remitted into the country from various regions, however exports were estimated to reach $244 million in accordance with the World Trade Organization (WTO) formula.

Pakistan exports software based IT solutions, financial and mobile applications, BPO services and infrastructure development support services to different countries.

Industry experts said that the achievement of growth in export 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 export growth is likely to recover its 50% benchmark by next year with the recovery of global economies of the United States (US) and the European Union (EU) bloc.

They said that exports have shifted slightly from the US, UK and Middle East to African markets, which are considered just as lucrative for Pakistan IT firms, particularly the southern part where infrastructure development has witnessed enormous growth lately.

Pakistan’s IT companies have sought potential in the developing markets of African countries to pace up 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 companies, call centers and miscellaneous service sectors in different countries.

The US is the largest buyer of Pakistan’s IT-enabled services, having a lion’s share in the country’s exports. The US is followed by the UK, where exports are hovering around 10%.

The pie of total exports shows 16% share of other countries including Australia, Canada, Thailand, UAE, Ghana and others.

A version of this post originally appeared on ProPakistani.pk