Pakistan’s technology exports hit record $348 million in December

Pakistan's technology exports reached an all-time high of $348 million in December, marking a year-on-year increase of 15% and a month-on-month rise of 12%, according to data released by the State Bank of Pakistan (SBP) on Friday.

Technology exports contributed 44% to the country’s overall services exports during the month.

Overall, services exports for December totaled $784 million, a 5% increase compared to the same month last year and an 18% rise compared to November.

Cumulatively, Pakistan's technology exports for the first half of fiscal year 2024-25 (FY25) stood at $1.86 billion, representing a 28% increase compared to $1.46 billion in the same period of FY24.

Other key contributors included other business services at $154 million (+2% compared to December 2023), government goods and services at $116 million (-15%), travel at $64 million (-7%), and transport at $75 million (+14%).

The overall services exports for the July-December period of FY25 amounted to $4.05 billion, a 7% growth compared to $3.79 billion in FY24.

The consistent rise in technology exports reflects Pakistan's growing focus on its digital economy, which has become a crucial driver for economic growth.