News, Technology

Pakistan’s IT exports grow 46% to $1.7bln in 10 months, to cross $2 billion mark for 1st time ever

Ahsan Zafeer Written by Ahsan Zafeer · 43 sec read>

Pakistan’s IT exports surged 46 percent to $1.7 billion in the first 10 months of the current fiscal year of 2020/21 as rapid digital transformation driven by social-distancing orders increased demand for online services, official data showed on Tuesday.

Ministry of Commerce data showed that information and communication technology and telecom exports grew from $1.17 billion in the corresponding period a year earlier.

In April 2021, these exports grew 66 per cent to $196 million compared to $118 million in April 2020.

Adviser to Prime Minister of Pakistan for Commerce and Investment Razak Dawood said ICT and telecom exports now look set to breach the $2 billion mark for the first time in history.

“I commend the hard work of our ICT & telecom exporters and assure them that the ministry of commerce is at their service for any facilitation they need,” Dawood wrote on Twitter.

Digitization in the wake of the COVID-19 crises and the government’s recent measures to promote the IT industry have led to optimistic predictions that the IT exports could eventually grow to $10 billion by 2030. However, experts have warned that withdrawal of Tax exemptions will hamper this goal.

Read More: Pakistan has earned almost $1,120mn from exporting IT services in 7 months: PBS.

Written by Ahsan Zafeer
A digital marketing professional specializing in content-based functional areas - Ahsan Zafeer is driven by a never-ending passion for developing, nurturing, and strategizing key content aspects. He writes extensively on tech, digital marketing, SEO, cybersecurity, and emerging technologies. He also serves as a digital marketing strategist and freelance consultant for globally oriented organizations. He tweets @AhsanZafeer Profile