Pakistan’s IT Exports Cross $330 Million in May to Hit Record High

Pakistan’s IT and IT-enabled Services (ITeS) export remittances comprising computer services and call centre services increased by around 23 percent during the first eleven months (July-May) of the current fiscal year 2023-24 and stood at $2.925 billion compared to $2.371 billion during the same period of last fiscal year. The official data showed that ITeS exports’ remittances increased by around 7 percent on a month-on-month (MoM) basis in May 2024 and stood at $332 million compared to $310 million in April 2024. On a year-on-year (YoY) basis, the sector export remittances increased by around 41 percent compared to $236 million in May 2023. The ICT export remittances, including telecommunication, computer, and information services, stood at $2.597 billion, a negative growth rate of around 1 percent in the fiscal year 2022-23 compared to $2.619 billion in the fiscal year 2021-22.