Wednesday, June 19, 2024

Pakistan IT Exports to Saudi Arabia Increased by $100 Million

Over the past two years, IT exports from Pakistan to Saudi Arabia have increased by $100 million annually, reaching a record high of $310 million in April 2024.

This steady growth suggests that Saudi Arabia could soon become Pakistan’s top destination for IT exports.

Noman Said, a well-known IT exporter, highlighted how the IT industry is transforming Pakistan’s economy. He pointed out its significant trade surplus and its role in attracting foreign direct investment from Saudi Arabia.

Several factors have contributed to this growth. The Special Investment Facilitation Council has been instrumental in supporting these efforts. Additionally, industry groups like P@SHA have focused on promoting the IT sector, which has helped drive this expansion.

This growth in IT exports demonstrates the potential of Pakistan’s technology sector to boost the national economy, create jobs, and foster stronger economic ties with Saudi Arabia. The increase in exports also highlights the quality and competitiveness of Pakistani IT services in the global market.

As IT exports continue to rise, Pakistan’s economy benefits from increased foreign investment and stronger trade relationships, paving the way for a more prosperous future.

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