Pakistan’s IT Export Jumps to $1.53 Billion in 7 Months
The information technology and IT-enabled services (ITeS) sector received export remittances of $1.523 billion in the first seven months (July 2022–January 2023) of the current fiscal year, an increase of 2.35% compared to the same period previous year. The export revenue for information and communication technology (ICT) was $1.488 billion at this time last year.
According to Tahir Abbas, Head of Research at Arif Habib Limited (AHL), the IT sector exported $2.2 billion in the first ten months of 2022, making up 38% of all service exports and indicating a rise of 29% year over year.
He noted that in addition to exploring the concept of creating an IT park with major tax advantages, the administration had been concentrating on growing IT exports. “IT exports increased despite the ongoing difficulties with conducting business and a rise in the cost of doing business,” the IT ministry noted in a statement on Monday.
In contrast to the $186 million recorded for January 2022, ICT export remittances increased by 2.15% to reach $190 million in January 2023.
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