zeeshan khan
Data from the State Bank of Pakistan (SBP) shows that during the first seven months of fiscal year 2024–25, Pakistan exported $2.18 billion worth of IT, a 27% YoY increase over the exact same time the previous year.
Since October 2023, the current month has seen YoY rise in IT exports for 16 continuous months, stated Topline Securities.
In January 2025, IT exports totaled US$ 313 million, up 18% year over year but dropped 10% month over month. January 2025’s monthly IT exports are more than double the US$303 million 12-the initial month record.
In the first month of 2025, export earnings were $13.6 million each day. They compared to $16.6 million in the last month of 2024.
Reasons for the YoY increase in IT exports are
- IT export businesses are expanding their clientele worldwide, particularly in the GCC.
- Expansion of the State Bank of Pakistan’s allowable holding cap for exporters’ specialised foreign currency user accounts, up 35% to 50% percent.
- IT exporters are encouraged to return a larger percentage of their income to Pakistan by the strength of the PKR and the authorization of equity investments outside via those foreign currency banks.
Pakistani IT firms actively interact with customers throughout the world. Leading Pakistani IT businesses recently attended the Pak-US Technology Development Seminar and Oslo Innovations Week.
A survey conducted by the Pakistan Software Houses Association (P@SHA) found that 62% of IT firms have specialist foreign exchange accounts.
The addition of a new Equity Investment Abroad (EIA) class by SBP, tailored to IT firms with an exports focus, is a significant move for FY25. IT importers can now use up to 50% of their profits from specialist foreign currency accounts to purchase equity (shareholding) in overseas companies. IT exporters would feel even more confident sending money back to Pakistan as a result of this change.
The monthly figure for Net IT Exports (Exports-Imports) was $281 million, representing a 17 % YoY and 27% MoM growth. In January 2025, those positive IT export figures exceeded the previous 12-month average of $261 million.Revenue projects that the IT industry would maintain its current development direction and speed, with a projected rise of 10-15 percent to reach US$ 3.5-3.7 billion in FY25. By FY29, the authorities seeks to export $10 billion worth of IT under the “Uraan Pakistan” national economic strategy. This suggests a 28 percent projected CAGR through FY29.
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