Pakistan’s IT Exports Surge 25% Year-on-Year to $324 Million in November Despite Challenges

Overview of Pakistan’s IT Exports Growth

Despite challenges like internet connectivity issues and firewalls, Pakistan’s IT exports growth continued with exports reaching $324 million in November, reflecting a 25% year-on-year increase, though showing a 2% decline compared to the previous month.

Exports Exceed 12-Month Average

These exports surpassed the 12-month average of $295 million and marked the 14th consecutive month of Pakistan IT exports growth, starting in October 2023.

Surge in IT Exports for FY25

Over the first five months of FY25, IT exports surged by 33%, totaling $1.53 billion. This growth is attributed to an expanded client base, particularly in the GCC region, increased retention limits set by the State Bank of Pakistan, and the stability of the Pakistani Rupee.

Reasons for Month-on-Month Decline

The slight month-on-month decline was primarily due to fewer working days in November.

Positive Developments for Future Growth

Recent measures, such as the SBP’s introduction of the Equity Investment Abroad (EIA) category, are expected to further strengthen confidence in Pakistan’s IT exports growth.

For more information, check the full details here: Overseas Pakistani Remittances.