Pakistan’s IT sector has reached a significant achievement, with exports climbing to a record $3.2 billion for the fiscal year 2023-24, reflecting a 24.2% increase from the previous year.
This impressive growth is credited to the vision of Prime Minister Shabaz Sharif and the government’s efforts to boost IT exports and improve the business environment.
According to Shaza Fatima, Minister of State for IT and Telecommunication, these initiatives have been crucial in driving the sector’s success. The Information and Communication Technology (ICT) sector now makes up 41.29% of the country’s total service exports, with notable contributions from ‘Other Business Services.’
Even though Pakistan faced a trade deficit in services amounting to $2.3 billion for the fiscal year 2024, there are ongoing efforts to strengthen the IT industry. Key stakeholders are actively working to build on this success and further enhance the sector’s growth and global competitiveness.
