IT exports surge 46pc to $1.7bln in July-April FY21
ISLAMABAD: Pakistan’s IT exports surged 46 percent to $1.7 billion in the first 10 months of the current fiscal year of 2020/21 as rapid digital transformation driven by social-distancing orders increased demand of online services, official data showed on Tuesday.
Ministry of commerce data showed that information and communication technology and telecom exports grew from $1.17 billion in the corresponding period a year earlier.
In April 2021, these exports grew 66 percent to $196 million as compared to $118 million in April 2020.
Adviser to Prime Minister of Pakistan for Commerce and Investment Razak Dawood said ICT and telecom exports now look set to breach the $2 billion mark for the first time in the history.
“I commend the hard work of our ICT & telecom exporters and assure them that the ministry of commerce is at their service for any facilitation they need,” Dawood wrote on Twitter.
Global COVID lockdown that adversely impacted the economic activities and bruised almost all the industrial production proved a catalyst to fast migration of people to the internet.
The State Bank of Pakistan said during the COVID-19 crisis, the importance of digitization became more prominent; from cash transfers to telehealth, and e-learning to e-commerce, the ICT-led response helped consumers, households and government authorities to minimize the socio-economic fallouts of the pandemic-induced lockdowns and disruptions.
Demand for mobile phones and internet services remained strong and was driven by remote-working and online-education arrangements. Consequently, there was a marked increase in cellular teledensity and in the numbers of broadband users in the country.
The COVID-19 pandemic has significantly accelerated the pace of digital transformation across the world. Necessitating widespread lockdowns and social distancing protocols, the pandemic has served as a litmus test for the preparedness and resilience of the global economy to deal with the unprecedented and unanticipated societal and commercial disruptions. Many organizations were forced to shift to teleworking almost overnight, whereas consumers started adopting digital channels for purchasing household essentials. Businesses accelerated the adoption of pre-COVID digitisation strategies – both in business-to-consumer and business-to-business segments – that were earlier designed to be rolled out over the medium- to long-term. Governments, too, have relied on contactless solutions to deliver crucial public services like social transfers, and to implement stringent disease-mitigation measures via contact tracing.
“Going forward, the government’s increased focus under the digital Pakistan policy and the national payments system strategy would ensure that progress on the digitisation front would continue,” the SBP said in a report.
“However, concerted efforts are required to tackle the various supply- and demand-side constraints to the high digital divide in the country. This would be crucial to ensure inclusive economic growth in the country.”
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