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The Growing IT Market In Pakistan Make Record Earning With IT Exports In This Year

Pakistan’s IT market is soaring, and it has made record earnings with IT exports this year.

Growing IT Market in Pakistan:

According to the reports and sources, it says Pakistan earned $2,197.787 million by delivering and providing IT services in various countries during the first ten months of the fiscal year 2021-2022.

This shows the growth of 29.29pc as compared to $1,699.860 million that was earned through the provision of services during the fiscal year 2020-2021, as it was reported by the Pakistan Bureau of Statistics (PBS).

During the time period of July-April (2021-2022), the export of computer services started to grow by 30.77pc as it started to soar from $1,343.550 million last fiscal year to $1,756.957 million this year.

Furthermore, the software consultancy services also witnessed a pump of 48.43pc from $443.478 million to $658.239 million, while the exports of the hardware consultancy jumped from 337.32pc from $0.456 million to $.1996 million.

The exports and imports of computer-software related services shoot up from 41.42 per cent. It went from $331.730 million to $469.133 million, whereas the export of repairing and maintenance went to $1.249 million from $0.464 million.

Moreover, the exports of other computer services went up by 10.38 per cent. It was $567.422 million, and now it’s sitting at $626.340 million.

Exports of IT services during the period increased by 39.51 pc going from $3.240 million to $4.520 million. Among the information services, the exports of news agency services increased by 68.56 per cent, from $1.765 million to $2.975 million. Meanwhile, the exports of other information services were by 4.75 per cent, from $1.475 million to $1.545 million.

There are more sources and data which reveal the exports of telecommunication services witnessed a jump of 23.58 per cent as it went up from $353.070 million to $436.310 million during the year.

IT Sector in Pakistan:

The IT Sector in Pakistan is one of the fastest growing sectors in Pakistan right now. It is contributing about 1% or more of the GDP of Pakistan at about 3.5 billion USD. It has been 2x in the past four years, and experts have expectations that it will grow a further 100% in the next two or four years to $7 billion.

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