Pakistan’s IT Export Remittances Surge by 33.54% in FY 2024-25 Q1
ISLAMABAD, – Pakistan’s IT export remittances have witnessed a substantial increase, reaching US$ 876 million during the first three months of FY 2024-25 (July to September), marking a notable 33.54% rise from US$ 656 million in the same period last year (FY 2023-24).
Minister of State for IT and Telecommunication, Shaza Fatima Khawaja, highlighted this achievement, noting that September 2024 alone saw ICT services export remittances amounting to US$ 292 million, up by 41.7% from US$ 206 million in September 2023. She attributed this growth to ongoing efforts to enhance the ease of doing business in Pakistan, facilitating a conducive environment for IT exports.
Under the directives of the Prime Minister of Pakistan and with support from the Special Investment Facilitation Council (SIFC), Ministry of IT and Telecommunication, and Pakistan Software Export Board, the IT industry aims to further boost its exports. This commitment has already resulted in a trade surplus of US$ 764 million, accounting for 87.21% of total ICT export remittances in Q1 FY 2024-25, showing a 36.67% increase from US$ 559 million in the same period last year.
In contrast, the overall services sector recorded a trade deficit of US$ 699 million during this timeframe. The robust performance of Pakistan’s IT sector, with ICT export remittances leading all services sectors at US$ 656 million during July to September 2024, underscores its growing significance in the country’s economic landscape.
This positive trajectory reflects Pakistan’s increasing prowess in IT exports and its potential to further strengthen its position in the global IT market.
