KARACHI: Pakistan’s IT exports have hit $1.2 billion in the first four months of the current fiscal year, marking a significant 34% year-on-year increase.
According to the State Bank of Pakistan, the country’s IT sector has exported services worth $1.2 billion from July to October 2024. In October alone, IT exports amounted to $330 million, a 13% increase from the previous month. Over the last 12 months, Pakistan’s IT sector has consistently exported an average of $290 million per month in services. Alongside this growth, Pakistani IT companies have successfully expanded their global client base.
The boost in IT exports is largely attributed to favorable policies implemented by the State Bank of Pakistan. Experts predict that the positive trend will continue into the next fiscal year, with projections indicating that total IT exports could grow by 10 to 15%, reaching between $3.25 billion and $3.75 billion by the end of the current fiscal year.
Minister of State for IT, Shiza Fatima, highlighted that IT exports in the first four months of the fiscal year have increased by 34.9%, with exports from July to October totaling $1.206 billion, compared to $894 million in the same period last year.
Shiza Fatima emphasized that, following the Prime Minister’s directives, efforts to further enhance IT exports are underway. The Ministry of IT, alongside the Pakistan Software Export Board, is actively working to boost export figures, and the IT industry itself is also focused on expanding its global footprint.
