- An increase of $20 million when compared to export figures of the same period last year
ISLAMABAD: The information technology (IT) and telecommunication industry of the country has contributed $540 million foreign exchange to the national kitty through exports during the first two quarters of this fiscal year 2018-2019.
The telecommunication, computer and information services managed to export IT and IT-enabled services worth $540 million, seeing an increase of $20 million as compared to exports figures of the same period last year, statistics of State Bank of Pakistan (SBP) revealed on Monday.
The year-on-year increase of just 3.8pc in the export value of IT industry is lower than expected and is likely because of the impact of rupee depreciation against the dollar.
It is pertinent to mention that Pakistan’s IT industry achieved a benchmark of $1.065 billion of exports in the last fiscal year 2017-18.
Pakistan Software Exports Board (PSEB) had chalked out a plan to boost exports to over $6 billion by 2020 and $10 billion by 2025.
The present government has also emphasized digitisation of the economy and the IT sector. It has formed a special task force on IT, comprising big names of the industry, to create jobs and facilitate exports.
The targets set for IT exports are ambitious but can be achieved if opportunities in the fields of cloud computing, mobile apps, artificial intelligence, blockchain etc. are availed by national companies.
According to Pakistan Software Export Board (PSEB), Pakistan’s IT & ITES-BPO industry comprises more than 2,500 companies, and this number is growing each year. The industry employs over 300,000 English-speaking professionals with many world-class experts in current and emerging IT products and technologies.
Pakistan is ranked 4th as the most popular country for freelancing in Online Labor Index published in 2017 by Oxford Internet Institute (OII). It is also listed as the 4th most financially attractive country in the world for outsourcing services, as per AT Kearney’s Global Services Location Index 2016.