Tuesday, February 27, 2024

Pakistan’s IT exports increased by 80.6 percent to $420 million in 2 months

According to the Ministry of Commerce, Pakistan’s technology exports climbed by 80.6 percent in August 2021 compared to the same month last year.

Technology exports totaled $224 million in August 2020, up from $124 million the previous month.

Similarly, according to central bank numbers, exports of information and communication technology climbed 46 percent to $420 million in the first two months of the current fiscal year. Exports totaled $287 million in the previous fiscal year.

In fiscal year 2020/21, Pakistan’s IT exports rose 47.4 percent and for the first time ever crossed $2 billion in the country, compared with $1.44 billion in fiscal year 2019/20.

In order to improve exports, the government focused on technology and the IT sector. To that end, freelancers are offered various incentives. In recent months, start-ups in Pakistan have also progressed remarkably.

Pakistan is ranked 2nd largest supplier of online labour in software and technology developments, according to the International Labor Organization Flagship Report 2021.

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