Pakistan’s IT Exports Increase to $1.231 Billion

Pakistan earned $1.231 billion through its IT exports and services during the fiscal year (FY) 2020. This amounts to a percentage growth of 23.71 % as compared to the FY 2019.  

The greatest contribution of IT exports and services is from the software consultancy services (almost 34%) which is followed by the export of computer software (almost 26%).

The Ministry of Information Technology and Telecommunication has set a target of $5 billion IT exports by the year 2023.

This was said by the Minister of IT and Telecommunication during the IT Exports Awards 2019.

The federal minister also congratulated the Pakistan Software Export Board, Pakistan Software Houses Association and the IT industry for being profitable despite COVID-19.

It was also revealed that the construction of an IT Park in Islamabad was ongoing as well as an IT Park in Karachi. Moreover, the IT Park in Gilgit will also be inaugurated soon.

Source: Profit