In 6 Months, IT Export Increased By 35.77% to $1.302 Billion

In 6 Months, IT Export Increased By 35.77% to $1.302 Billion

Rates of export and import might fluctuate. In these words, nothing is ever the same. To put it another way, Pakistan is an underdeveloped nation. It is exporting many IT-related items to make a name for itself in the industry. A few statistics were released by Pakistan’s Ministry of Information and Technology (MIT) a few days ago. Compared to the US $959 million in exports in the July-December Financial Year (FY) 2020-21, the US $1.302 billion in ICT export remittances for the period July-December FY 2021-22 represents a 35.77% yearly increase.”

Valuations of Export Increment

For December 2021, ICT export sales were US$251 million, compared to US$195 million in December 2020. In November 2021, their export revenue will be $30 million more than their annual growth rate of 28.72 percent.

More specifically, net exports for the period 2021-22 amounted to US$ 972 million (74.65% of US$ 1.302 billion in export profits). This year’s exports have increased by $781 million (71.01% of the previous year’s total exports), compared to $759 million ($681 million).

Faisal Javed Khan

The Pakistan Tehreek-e-Insaf (PTI) Senator Faisal Javed Khan stated in a Twitter post that Pakistan had accomplished its most significant ever IT exports in the previous six months.

IT exports climbed by 36% to $1.302 billion in fiscal year 21-22 from $959 million in 2020-21, he said. It is hoped that the $3.5 billion milestones would be broken this financial year, he said.

Seeing Pakistan bloom is a goal of Pakistani Prime Minister Imran Khan, who is quoted in the article. Javed chairs the Senate Committee on Information and Broadcasting. He stresses the need to increase exports to promote economic development. “In two years, our IT industry will quadruple,” he predicted.