Services exports swell to $4.4bn

Export of services grew 6.16 per cent to $4.748 billion in the first seven months of the current fiscal year from $4.472bn a year ago, driven by the telecommunication sector. Services exports have seen positive growth since February 2024, mainly due to a surge in information technology and other businesses. However, there was a 6.5pc decline in August 2024. In rupee terms, the exports improved by 3.27pc to Rs1.321 trillion in the first seven months of FY25 against Rs1.279tr in FY24, according to statistics issued by the Pakistan Bureau of Statistics on Tuesday. In January, services exports rose 1.51pc to $691.62 million against $681.31m a year ago. According to the data compiled by the State Bank of Pakistan, the exports of telecommunications, computer, and information services reached $2.177bn in the first seven months of FY25 against $1.721bn over the corresponding months of last year, a growth of 26.49pc.