The Ministry of Information Technology has reported a significant surge in Pakistan's IT exports, with a remarkable increase recorded during the period from July to March of the current financial year.
According to official figures released by the ministry, there has been a 17.44% rise in IT exports during the mentioned period, amounting to an increase of approximately $339 million. The total IT exports during this period were $2.283 billion, marking a considerable growth compared to the corresponding period last year, which was $1.944 billion.
The month of March alone witnessed an exceptional boost in IT exports, with a staggering increase of $306 million reported. This represents a remarkable 36% surge compared to March of the previous year. Additionally, March 2023 saw a notable increase of $225 million compared to the same month in 2022, further underlining the sector's robust growth trajectory.
Moreover, the ministry highlighted that there was a notable 19% increase in IT exports in March compared to the preceding month of February this year, indicating sustained growth and momentum in the sector.
The surge in IT exports is attributed to various factors, including increased demand for digital services, software development, and IT-enabled services both domestically and internationally. The ministry expressed optimism about the continued growth of Pakistan's IT industry and its potential to contribute significantly to the country's economy.
