In March 2021 Pakistan's IT exports grew by 58%

For different industries in Pakistan, the fiscal year 2021 is proving beneficial. This particularly applies to the IT market, whose exports increased 58 percent in March 2021 compared to last year's corresponding time.

In March 2021, the country's exports of information technology (IT) received $213 million in Profit by Pakistan Today, which references the data shared by the study from Arif Habib Limited.

Furthermore, the data showed that during the first nine months of the fiscal year 2020-21 technology goods worth $1,512 billion were exported, adding 35% to the total services exports and reporting an annual leap of 44%.

Muhammad Ahmed, an analyst with Insight Securities said the rise in exports is a result of expanded self-reputation activities in the pandemic COVID-19.

Ahmed said Pakistan's rupee's equal value against the US dollar contributes enormously to export surges as well as diverging inflows through legal networks after suspension of flights around the world.

"Government efforts to document the IT sector by providing a tax credit of approximately 80% of export income helped to boost technology exports," he said.

It should be noted here that Systems Limited, one of Pakistan Stock Exchange (PSXmajor )'s IT services and goods exporters, recorded an all-time high annual turnover of PKR 10 billion and announced a PKR 2.1 trillion income.

Systems was willing, according to Ahmed, to exceed our sales forecasts of 2% and to achieve profit of 8%.

In the calendar year 2020, the IT firm maintained its growth momentum by reporting a growth of 22 percent in sales in dollars.