With the ongoing export surge, Pakistan’s IT industry has become billion-dollar. The unpopular opinion might reflect Pakistan is far behind other countries in information technology. Yet recent data and statistics unrolled by Economic Survey 2023-24 hinted towards the growth and potential of Pakistan IT industry. 

Pakistan IT Industry Remittances in 2024 – Highest Among all Exports

During the Fiscal Year 2024, from July to March, the export remittances of Pakistan’s IT Industry were counted as $2.283 billion. This was approximately a 17.44% increase compared with the previous year (FY 2022-23) which was $1.944 billion. 

What are Pakistan’s IT Export Destinations 

Pakistan’s ambitious Freelancers and tech startups have successfully generated high remittances by providing tremendous services to multiple regions. Through foreign exchange earnings, the freelancer community has contributed $350 million in remittances in FY 2024, which is expected to increase in the coming years. Pakistan’s IT industry provides several ICT services to more than 170 countries. The services include; 

• Software development
• IT Enabled Services (ITeS)
• Technical Services
• Call Center Services
• Telecom Services

With $100 million per year in IT exports, Saudia Arabia has become Pakistan’s one of the biggest IT export partners, a breakthrough for the industry. Other destinations for Pakistan IT exports include;

• USA
• UK
• Ireland
• Singapore
• Canada 
• China 
• Saudia Arabia
• Germany 
• Norway
• Sweden
• Australia 
• Switzerland
• Japan, and 
• Malaysia

Pakistan IT Industry Future Goals 

With the world becoming more digitalized, and the youth talent the country holds, Pakistan’s IT Industry has a huge scope to extend its footprints in other parts of the world. Also, the government’s interest and focus on the ICT sector will help achieve a massive boom through FDIs. 

Export Target of the ICT Industry 

The government has set a target of $15 billion for Pakistan IT Industry export revenue for the next five years. To meet this target, the government plans to expedite training and certification programs and train 300,000 youth to create more IT professionals. Tech startups and entrepreneurs will be facilitated as much as possible to help achieve the goal. 

It is a wonderful initiative by the authorities to engage the world tech giants like Microsoft, and Google to produce 1.5 million IT-certified professionals. The youth will be able to upgrade their skills and play a significant role in the national economy and attract remittances to the homeland. 

The Trend of IT Malls in Highrise Projects

With the growing scope of ICT-related products and services, real estate builders and companies have started incorporating IT malls in their projects. One example is MGC Jewel. It is one of the fastest developing highrise projects in Bahria Town, Rawalpindi. MGC Jewel offers a contemporary structure and 32+ world-class amenities. This highrise project also contains one of the latest IT floors in Bahria Town, with a covered area of 6 kanal. Click here to learn everything about MGC Jewel. Real estate builders’ focus on tech advancement will help Pakistan IT Industry freelancers and tech startups to excel in the world.