Pakistan’s IT Export Remittances Rise by 11% in November

Pakistan’s information technology (IT) sector is witnessing a significant uptick, with IT service export remittances climbing by 11% this November compared to the same month last year. Pakistani Information Technology and Telecommunication Minister Umar Saif shared these figures on Tuesday, highlighting the positive impact of the government’s policies on the IT industry.

In a recent social media post, Saif noted the upward trend in IT exports, a key indicator of the sector’s growth. Last month, IT service export remittances reached $259 million, a substantial increase from the $233 million recorded in November 2022.

This growth is part of a broader trend observed in the current fiscal year. From July to November 2023, IT export remittances surged by $64 million, marking a 5.88% increase to $1.152 billion, compared to $1.088 billion during the same period last year. These figures underscore the burgeoning strength of Pakistan’s IT sector and its increasing contribution to the country’s economy.