ICT exports collect $1.9 billion in 11MFY20

On Friday the Exports of telecommunications, computer and information services increased by almost 48 per cent to $1.908 billion during the first 11 months of this fiscal year compared to $1.29bn in 11MFY20, according to State Bank’s latest data.

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 in the growth. The communication gap due to the pandemic crisis allowed the sector to fill the gap and maximise its business.