Pakistan’s IT exports experienced a decline for the first time in over a year after 13 consecutive months of increase.
In November 2024, IT exports were $6 million lower compared to October, a drop of 2% on a month-on-month basis.
According to the State Bank of Pakistan, the country’s IT exports amounted to $324 million in October 2024 but slipped to $318 million in November. Despite the monthly decline, IT exports showed a 25% increase compared to the same period last year, reflecting robust year-on-year growth.
For the first five months of the current fiscal year, Pakistan’s IT exports totalled $1.53 billion, up significantly from $1.15 billion during the same period of the previous fiscal year.
Industry experts emphasize the need to address challenges hindering export growth to sustain the upward trajectory seen over the past year.
