According to estimates from the Ministry of Information Technology and Telecommunication (MoITT), the GDP share of the digital and information technology (IT) sectors would rise to 13 percent by 2025 as a result of the rapid growth of the digital economy over the next five years.
According to official ministry papers, the size of the digital economy will significantly increase over the next five years as Pakistan’s use of digital technology expands. In the upcoming years, the GDP’s share of the digital economy will increase.
While the GDP contribution of the digital and IT sectors would rise from 2.7 percent to 13 percent, the GDP contribution of the Information and Communication Technology (ICT) core industry will rise from 1.2 percent to 8.15 percent.
According to the data that is currently available, Pakistan’s digital economy is measured in two ways, i.e. the key industries of ICT, digital technology, and IT. The ICT core industry’s share of the global GDP in 2019 was 1.2 percent. The IT and telecom industry in Pakistan makes up about 2.7% of the country’s GDP.
Modern ICTs have the ability to accelerate social and economic growth, and this promise will be further realized with the maturation of four supporting technologies: IoT, cloud computing, big data analytics, and AI.
The analysis by Huawei predicts that by 2025, the digital economy would be worth $23 trillion. By 2025, there will likely be 100 billion connections, which will accelerate the digital transformation of industries including public utilities, transportation, manufacturing, healthcare, agriculture, and finance.
By then, 86% of global organizations would be using AI, 85% of corporate apps will be on the cloud, and data usage will have reached 80%. This implies that 180 billion gigabytes of data will be produced annually, serving as a continuous source of creative thinking and value creation.
The cornerstone for nations to build a digital economy and improve their overall economic competitiveness and well-being is ICT infrastructure and services. They may support sustainable cities and communities by lowering poverty and hunger, improving health, generating new employment, reducing climate change, and enhancing energy efficiency.
To read our blog on “Pakistan’s National ICT Development White Paper released by MOITT,” click here
