How Much FX was spent on Telecoms/Technology Related Items (2013 - H1 2015)

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Sunday, January 17, 2016 08:34 PM / TheAnalyst

The communication services sector which houses postal services, courier services, telecommunications services and audiovisual services is one of the sectors with low FX usage. It recorded 1.27% FX utilization between Jan 2014 to May 2015.

The postal services sub-sector recorded no FX usage while courier services sub-sector recorded 0.04% FX usage between Jan 2014 to May 2015. The usage can be attributed to their foreign operations in service delivery to other countries.

The telecoms services sub-sector recorded the highest usage figure as it has 1.22% FX utilization figure with voice telephone services, online information and data processing inclusive of transaction processing taking the chunk of the figure.

A look at the Q3 GDP report published by the NBS shows that the information and communication sector in which telecommunications belong grew by 5.27% in real term YoY and telecommunications and information services was said to be the main driver of the growth.




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