WEB DESK: Pakistan’s IT exports dipped for the first time in just over a year, breaking a trend of 13 consecutive months of growth. According to the State Bank of Pakistan (SBP), IT exports in November 2024 decreased by $6 million from October, falling by 2 per cent month-on-month.
IT exports in October 2024, which reached $324 million, now fell to $318 million in November. Even with the monthly dip, the sector exhibited considerable resilience with a strong 25 per cent year-on-year upturn compared with November 2023.
Pakistan’s IT exports during the first five months of the current fiscal year have hit $1.53 billion as against $1.15 billion during the same period last fiscal year. Thus, this kind of performance proves the potential for the sector to be an engine for economic growth.
However industry experts opine that the presence of problem areas would have to be resolved about export growth, and they would insist on promoting policy interventions, infrastructure development, and a business-friendly atmosphere to continue the upward trend experienced over the last year.
Thus, the IT sector is an important sector of Pakistan as the economy is concerned, which needs continuing effort towards its full realization and keeping it competitive in the global market.
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