IT service exports contribute 1.4 percent to Nepal’s GDP, freelancers more than companies
A study has shown that IT service exports contribute 1.4 percent to Nepal’s gross domestic product (GDP).
A study led by the Center for Inclusive Development Studies (IIDS) found that IT service exports contributed 1.4 percent to Nepal’s GDP in 2022.
The contribution of IT service export to Nepal’s GDP has increased by 0.5 percent in one year. In 2021, IT service exports contributed only 0.9 percent to GDP. Similarly, in 2020, such contribution was 1 percent.
Apart from this, IT service exports have contributed 5.5 percent to Nepal’s foreign exchange reserves. Interestingly, freelancers have contributed more to Nepal’s GDP and foreign exchange reserves than IT companies.
In 2022, IT companies contributed 0.5 percent and freelancers contributed 0.8 percent to GDP, while IT companies contributed 2.2 percent and freelancers contributed 3.4 percent to foreign exchange.
In 2022 alone, 106 information technology companies and about 66,509 freelancers have exported services worth more than 67 billion.
IIDS conducted the study with the participation of 389 freelancers and 86 IT companies as primary data. Apart from this, more than 100 stakeholders were also consulted.
The data of Nepal Rastra Bank, Internal Revenue Department, National Statistics Office, Company Registrar’s Office and Online Labor Index were taken as secondary data.
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