Exports of services grew 4.6pc in July-September.

ISLAMABAD -- Service exports grew 4.63 per cent in the first quarter of the current fiscal year, mainly driven by information technology.

In absolute terms, exports rose to $1.69 billion in July-September from $1.61bn a year ago, according to the latest data compiled by the Pakistan Bureau of Statistics.

In September, the export of services dipped by 1.73pc to $565.96m from $575.94m in the same month last year.

In the previous fiscal year, the export of services grew 17.2pc to $6.968bn from $5.945bn the preceding year.

The PML-N-led coalition government has projected services' export target at $10bn for FY23.

The highest-ever growth in IT-related services pushed up the overall export figure. Other services include finance and insurance, transport and storage, wholesale and retail trade, public administration and defence sectors.

The Pakistan Software Export Board has created an entire IT Export Strategical Framework and executed programmes and schemes accordingly through a series of projects to develop infrastructure, human capital, company capability, global marketing, strategy and research, and promote innovation and technologies.

The services sector has emerged as the main economic growth driver by contributing 61pc to...