Pakistan’s IT exports surge 42% to $292m in Sep

MG News | October 21, 2024 at 04:11 PM GMT+05:00

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October 21, 2024 (MLN): Pakistan's Telecommunications, Computer, and Information Services exports surged by 41.75% to $292m in August compared to exports of $206m 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 44.44% in September.

A month-on-month comparison reveals that IT exports dropped by 2.01%, falling from $298m reported in August 2024.

On a cumulative basis, IT exports clocked in at $876m, reflecting a substantial 33.54% growth compared to the first three months of the previous fiscal year.

Meanwhile, imports for the category during the review month fell 11.95% compared to the previous year and 9.76% compared to August.

In 2MFY25, SBP reported that the country faced $112m in IT imports, up by 15.46% YoY.

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