Pakistan’s IT and technology exports have hit a record high of $366 million in a single month, marking a significant achievement for the country’s fast-growing digital economy.
The latest data from the State Bank of Pakistan (SBP) shows strong growth in the sector, highlighting its increasing role in boosting national revenue and foreign exchange earnings.
According to the SBP report, IT exports grew by 21% year-on-year during the first quarter of the current fiscal year. This steady rise reflects the growing global demand for Pakistan’s software development, IT-enabled services and freelancing expertise.
The sector continues to be one of the country’s most promising areas, providing new job opportunities and supporting the government’s goal of building a knowledge-based economy.
In another encouraging development, Pakistan recorded its first current account surplus of $110 million for the fiscal year.
This marks a sharp turnaround compared to a deficit of $325 million in the same period last year. The improvement is mainly attributed to higher exports, strong remittances, and better control over imports.
Experts believe that the growth in IT exports and the positive balance of payments signal a strengthening economic outlook. They also credit the digitalization efforts, government incentives for tech startups, and the rising number of skilled IT professionals for this success.
