ICT exports increased by 22.67% in December 2023

BusinessICT exports increased by 22.67% in December 2023

ISLAMABAD, Pakistan: The Information and Communication Technology (ICT) export remittances have increased by US$ 64 million (8.99%) to US$ 1.455 billion during July to December 2023 of FY2023-24 in comparison to US$ 1.335 billion reported for the same period last year.

Efforts of the Minister of IT & Telecommunication Dr. Umar Saif in close coordination with Special Investment Facilitation Council (SIFC) on improving ease of doing business environment is building IT Industry’s confidence, resulting in an increase in IT & ITeS export remittance receipts.

   

In the month of December, 2023 ICT services export remittances surged to US$ 303 million, an astounding increase 22.67% in comparison to US$ 247 million in December 2022.

In comparison to previous month of November 2023, ICT services export remittances have increased by US$ 44 million in December, 2023, a month to month increase of 16.99%.

The trade surplus of US$ 1.251 billion, highest in all Services (85.98% of total ICT export remittances) has been realized by the IT & ITeS Industry during July to December 2023 of FY2023-24, an increase of 7.11% as compared to trade surplus of US$ 1.168 billion during the same period last year.

Whereas, the Services sector has overall recorded trade deficit of US$ 1.43 billion during July-December 2023 of FY2023-24.

The ICT sector exports of US$ 1.455 billion are the highest among all Services (38.64% of total export of services) with ‘Other Business Services’ trailing at US$ 785 million.

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

Must read

Recent News

Interbank Dollar Rate Today in Pakistan – 21 February 2024

0
Interbank Exchange Rates in Pakistan The Interbank Closing Exchange Rate in Pakistan has been issued by the State Bank of Pakistan (SBP) for February 21,...

The country is on safe passage after SC dismissed the petition over alleged rigging...

0
Islamabad, Pakistan: “The country is on safe passage after SC dismissed the petition over alleged rigging and PMLN-PPP announced the formation of government in...

Patients are free to buy any vitamin or supplements of their choice, clarifies health...

0
ISLAMABAD, Pakistan: The Ministry of National Health Services, Regulations & Coordination has categorically denied the fabricated reports that use of vitamins, multi-vitamins, minerals and...

South Asia’s security needs to be prioritized in its own rights, not as a...

0
WASHINGTON DC: Pakistan’s Ambassador the United States Masood Khan has said that “Pakistan is key to South Asia’s security. It is in the strategic...

AUD to INR: Australian Dollar to Indian Rupee Today – 21 February 2024

0
The Australian Dollar (AUD) was trading at 54.40 as per the Indian Rupee (INR) on Wednesday.Currently, Indians are now the second-largest migrant group in...
Advertisement