Information Technology (IT) sector is one of the sectors in Pakistan which has achieved significant growth over the previous decade. According to the estimates of the Board of Investment, Pakistan, the IT Sector is one of the fastest- growing sectors of Pakistan contributing about 1% to the GDP of Pakistan at about $3.5 billion. During 2018-19, Pakistan's IT exports were $3.5 billion approximately17. It doubled in the past four years and experts expect it to grow a further 100% in the next two to four years to $7 billion18.
According to the Pakistan Software Export Board (PSEB), there are more than 3000 active IT/ITeS companies, which possess expertise in custom software development, enterprise resource planning (ERP), financial solutions, mobile content, document management, enterprise computing, and business process outsourcing (BPO).
According to a US-based organization, export.gov, Computer Software is the best prospect area in the IT/ITeS sector for investment in Pakistan. The most promising sub-sectors for U.S. companies within the computer software sector for FY-2020 are:
According to Pakistan's Ministry of Finance, during FY 2017-18, the local economy achieved a considerable growth rate of 5.8 percent despite chronic challenges including an energy crisis and terrorism. The local software market offers substantial business opportunities for U.S. companies who offer products for the corporate sector including financial management and business forecasting, online IT training portals, e-commerce, e-payment, embedded tools, and other web-based applications.
Industry experts expressed optimism about growth prospects in the e-commerce sector, projecting $1 billion in revenue by 2020. Increased use of mobile wallets, coupled with cheaper, more reliable smartphones, has helped increase the user base for Pakistan's e-commerce industry21.