Pakistan’s IT exports saw a decline for the first time in over a year, following 13 consecutive months of growth.
In November 2024, IT exports dropped by $6 million compared to October, marking a 2% decrease on a month-to-month basis.
According to the State Bank of Pakistan, IT exports amounted to $324 million in October 2024 but fell to $318 million in November. Despite the decline, the exports still showed a strong 25% year-on-year growth compared to the same month last year.
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For the first five months of the current fiscal year, Pakistan’s IT exports reached $1.53 billion, a significant increase from $1.15 billion during the same period in the previous fiscal year.
Experts in the industry stress the importance of addressing the challenges that are hindering export growth to ensure the continuation of the positive trend observed over the past year.
