ISLAMABAD: Pakistan’s Information and Communication Technology (ICT) export remittances have seen a remarkable increase of 30%, reaching $584 million in the first two months of the 2024-25 financial year (July-August), compared to $449 million in the same period last year.
According to the Ministry of Information Technology and Telecommunication, ICT services remittances totaled $298 million in August 2024, marking a 26.8% rise from $235 million in August 2023. This also represents a $12 million increase from July 2024, a growth of 4%.
The IT and ITeS industry reported a trade surplus of $509 million during the first two months of FY 2024-25, the highest among all services, accounting for 87.15% of total ICT export remittances. This surplus reflects a 29.2% increase compared to the $394 million surplus recorded in the previous year (FY 2023-24).
Within Pakistan’s economy, the ICT export remittance inflow is the highest among the services sector, followed by “other business services,” which stands at $255 million.
