Pakistan’s IT exports crossed $2 billion for the first time in history, marking a 47 percent growth over last year.
According to the data released by the State Bank of Pakistan, the exports of IT and IT-enabled services increased to $2.1 billion in the Fiscal year 2020-21, as compared to $1.44 billion reported in the previous financial year.
Pakistani Technology companies have been getting large orders primarily from USA, UK, EU markets as lockdown in the many Indian States has impacted industry there.
Moreover, with government’s focus on training the youth with Digital Skills, has also led to many young freelancers offering their services globally.
While industry analysts say that Software houses across the country have witnessed an increased hiring trend in contrast to other sectors of the economy.
The Government has set a target to increase IT-related exports to $5bn within years.
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