Pakistan Tech Exports Soar 69% in February 2021
Pakistan's technology exports shot up by 69% in February 2021 from the same month last year. Tech exports soared 41% for the first 8 months (July 2020-February 2021) of the current fiscal year from the same period period last year, according data released by the State Bank of Pakistan.
|Pakistan Tech Exports Trend. Source: Arif Habib Securities|
In addition to jump in tech services exports, Pakistan is also seeing double-digit growth in exports of engineering goods, up 19.74% for the first 8 months of the current fiscal year. Export of electric fans posted over 15% growth and other electrical machinery 17.16%.
Technology services exports from Pakistan continued their momentum into February 2021, rocketing up 69% to $179 million, up from $106 million in February 2020. ICT exports for the first 8 months of the ongoing fiscal year 2020-2021 rose 41% to $1.3 billion, on track to reach or surpass the $2 billion mark this year.
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