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The ICT export remittances sector has significantly contributed to Pakistan’s economy, comprising over 10.5% of total exports in FY2023-24. The rapid expansion of the IT and IT-enabled Services (ITeS) industry has driven substantial growth in export earnings and generated a notable trade surplus.
Minister of State for IT, Shaza Fatima Khawaja, informed the Senate that ICT export remittances reached a record-breaking $3.223 billion, accounting for 41.3% of Pakistan’s total services exports. This surge underscores the sector’s growing importance in the national economy.
Additionally, the IT and ITeS sector recorded a trade surplus of $2.827 billion, which constitutes 87.71% of total ICT remittances. This reflects a 22.31% increase from the prior fiscal year’s surplus of $2.297 billion. Meanwhile, the broader services sector faced a trade deficit of $2.313 billion during the same timeframe.
Key Drivers of ICT Export Expansion
The Minister attributed the sector’s remarkable growth to her government’s progressive policies, global marketing initiatives, and investments in workforce development. She highlighted that the IT industry has maintained a compound annual growth rate (CAGR) exceeding 22% over the past five years, positioning it as one of the fastest-expanding areas within Pakistan’s services sector.
According to the minister, the positive momentum in ICT export remittances has continued into FY2024-25. Between July and December 2024, export earnings rose 28% year-on-year, reaching $1.86 billion, compared to $1.45 billion in the corresponding period last year.
In December 2024 alone, remittances amounted to $348 million, reflecting a 14.8% rise from December 2023 and a 12.2% month-on-month increase from November 2024, when remittances totaled $310 million.
The table below outlines the yearly progress in ICT export remittances:
| Fiscal Year | ICT Export Remittances | Year-on-Year Growth |
|---|---|---|
| FY2022-23 | $2.596 billion | – |
| FY2023-24 | $3.223 billion | +24.15% |
| FY2024-25* | $1.86 billion (H1) | +28% (H1 YoY) |
(Figures for FY25 cover the period from July to December.)
Government Strategies for Sustained Growth
The Minister stated that to sustain the growth of ICT export remittances, the Ministry of IT and Telecommunication (MoITT) has undertaken several strategic initiatives.
These include expanding Pakistan’s IT footprint in international markets, strengthening human capital through advanced skill development programs, and investing in modern digital infrastructure, including cutting-edge IT parks and broadband connectivity.
Additionally, the government is fostering strategic collaborations with global tech firms to attract foreign investment and bolster the industry’s global presence.
