Pakistan’s IT exports surge 38.7% to $292m in Sep

MG News | November 18, 2024 at 10:19 AM GMT+05:00

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November 18, 2024 (MLN): Pakistan's Telecommunications, Computer, and Information Services exports surged 38.66% to $330 million in October compared to exports of $238m 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 47.9% in September.

A month-on-month comparison reveals that IT exports spiked 13.01%, rising from $292m reported in September 2024.

Meanwhile, imports for the category during the review month fell 16.22% compared to the previous year and 8.82% compared to September.

On a cumulative basis, IT exports clocked in at $1.21bn, reflecting a substantial 34.9% growth compared to the first four months of the previous fiscal year.

On the other side, SBP reported that the country faced $143m in IT imports, up by 9.16% YoY.

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