Hajra Naz
Over 10.5% of Pakistan’s overall export value in FY2023–24 came from ICT export remittances, underscoring the expanding significance of the IT and IT-enabled Services (ITeS) industry.
In a written statement, State Minister for Information Technology Shaza Fatima Khawaja told the Senate that ICT export remittances hit a record high of $3.223 billion, accounting for 41.3% of Pakistan’s overall service exports. Additionally, the industry produced a $2.827 billion trade surplus, which accounted for 87.71% of all ICT remittances. This represents a 22.31% increase over the $2.297 billion surplus from the prior year. For the same period, the larger services sector had a $2.313 billion trade deficit.
Over the past five years, the IT and ITeS industry has kept up a compound annual growth rate (CAGR) of over 22%, making it the fastest-growing section in Pakistan’s services sector.
The minister further expressed that ICT exports surged by 24.15% in FY24, with export settlements growing by $627 million compared to $2.596 billion in the past year. Whereas Pakistan’s add-up to exports developed by 10.5%, ICT exports far outpaced this, recording a growth rate of over 24%.
This force has carried into FY25, with ICT export settlements rising 28% in the first half (July-December) to $1.86 billion, compared to $1.45 billion in the same period last year. In December 2024 alone, ICT services remittances came to $348 million, checking a 14.8% year-on-year increment and a 12.2% month-on-month rise from $310 million in November 2024.
Through modern infrastructure, workforce development, and international market expansion, the government is dedicated to maintaining this rising trajectory. To further solidify Pakistan’s ICT sector on the international scene, the Ministry of IT & Telecom (MoITT) has started several strategic measures, such as aggressive foreign marketing, skill development programs, and collaborations with multinational tech companies.
