Tuesday, June 25, 2024

Pakistan’s IT Exports Increase by a Massive 39% in July-Nov

During the first five months (July-November) of the fiscal year 2020-21, the Information Telecommunication (IT) and IT-enabled Services (ITeS) export remittances consisting of computer and call centre services increased to $763 million, revealed Pakistan Software Export Board’s latest report.

This is at a 39 percent growth rate, compared to the $549 million remittances reported during the same 2019-20 period.

The IT and IT-enabled Services (ITeS) export remittances clocked $168 million for only the month of November 2020. This is 51% higher than the 111 million dollars recorded during November 2019.

The month-over-month information indicates that export remittances from IT and ITeS will rise from $151 million in October 2020 to $168 million in November 2020.

In the fiscal year 2019-2020, comparison of annual remittances for the current year and the previous year shows ITeS export remittances at $1.230 billion, showing a 23.71 percent rise compared to $994.848 million last year (2018-2019) in the same period.

In order to make sure the sustainable growth of Pakistan’s IT industry and close cooperation with the IT industry and related stakeholders, the IT Ministry is taking all possible steps. The numerous government projects and incentives to boost the IT industry’s capacity and capability have resulted in high growth rates in the industry, the ministry said in a press release.

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