March 2024 saw the highest-ever monthly exports of $306 million, according to government figures. This was an increase of about four percent on a month-on-month (MoM) basis compared to the previous record of $303 million recorded in December 2023.
The sector’s export remittances reached $225 million in March 2023, an increase of almost 36% year-on-year (YoY).
The export remittances for information and communication technology (ICT)—which includes telecommunication, computer, and information services—amounted to $2.597 billion in FY23, down about 1% from $2.619 billion in FY22.
The information technology sector has an export potential of almost $15 billion, but the country’s policy mistakes, taxation problems, and banking obstacles stop it from reaching that potential.