Pakistan’s IT exports surge 26.8% to $298m in August

MG News | September 18, 2024 at 03:26 PM GMT+05:00

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September 18, 2024 (MLN): Pakistan's Telecommunications, Computer, and Information Services exports surged by 26.81% to $298m in August compared to exports of $235m in the same month last year.

It is worth mentioning that IT exports stand out as the largest contributor to the country's services exports, accounting for 48.06% in August.

A month-on-month comparison reveals that IT exports increased by 4.2%, rising from $286m reported in July 2024.

On a cumulative basis, IT exports clocked in at $584m, reflecting a substantial 30.07% growth compared to the first two months of the previous fiscal year.

Meanwhile, imports for the category during the review month also increased 20.59% compared to previous year and 32.26% compared to previous month.

In 2MFY25, SBP reported that the country faced $75m imports, up by 36.36% YoY.

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