Pakistan’s IT exports rise 14% in November

Pakistan’s information technology exports rose 14% from a year earlier to $356 million in November, supported by policy incentives from the central bank and expanding demand from the Gulf region, industry data showed.

The November figure was 8% lower than October’s level but remained above the 12-month monthly average of $337 million. Export proceeds averaged $17.8 million per day during the month, compared with $16.8 million in October.

Cumulative IT exports for the first five months of fiscal year 2025-26 reached $1.8 billion, up 19% from the same period a year earlier.

Industry participants attributed the year-on-year growth to several factors, including Pakistani IT firms expanding their global client base, particularly in Gulf Cooperation Council countries, and recent regulatory changes by the State Bank of Pakistan.

The central bank earlier raised the permissible retention limit for exporters’ specialized foreign currency accounts to 50% from 35% and allowed IT firms to make equity investments abroad using funds from those accounts. Exporters have also benefited from relative stability in the Pakistani rupee, which has encouraged companies to remit a larger share of earnings back home.

A survey by the Pakistan Software Houses Association, or P@SHA, found that 62% of IT companies now maintain specialized foreign currency accounts.

Net IT exports — exports minus imports — totaled $309 million in November, up 13% from a year earlier but down 8% from October. The figure was still higher than the 12-month average of $295 million.

The government has set a target of $5 billion in IT exports for FY26. Market analysts expect exports to grow by about 18% to 20% during the year, reaching roughly $4.5 billion, compared with $3.8 billion in fiscal 2025.

Under the government’s “Uraan Pakistan” national economic plan, authorities aim to increase IT exports to $10 billion by fiscal 2029, implying an annual growth rate of about 27% over the period.