Pakistan’s IT Exports to Saudi Arabia Surge by $100 Million

Noman Said, a leading IT exporter from Pakistan, announced that the IT industry is showing transformative potential for the Pakistani economy, particularly through exports to Saudi Arabia. In April 2024, IT exports reached $310 million, marking the highest-ever monthly figure despite a high month-on-month base. Over the past two years, IT exports to Saudi Arabia have grown by $100 million annually, with Saudi Arabia poised to become Pakistan’s largest IT export destination.

 

In March 2024, exports were $306 million, setting a historical record at that time. The consistently increasing numbers indicate that the IT industry has outperformed other traditional sectors, becoming the most vibrant and forward-looking export sector in Pakistan. The IT industry enjoys a trade surplus of 77% and is a top sector for attracting foreign direct investment (FDI) from Saudi Arabia.

 

Noman attributed part of this success to the formation of the Special Investment Facilitation Council (SIFC), which has focused on IT as a key area. He also acknowledged the efforts of the Pakistan Software Houses Association (P@SHA) in driving industry growth. He highlighted that LEAP 2024, Pakistan’s most successful global IT exposition, generated leads worth $500 million, further cementing the partnership between Pakistan and Saudi Arabia in emerging technologies.

 

This progressive trend in IT exports is seen as a game-changer for Pakistan’s economy, showcasing the potential of the IT sector to lead economic transformation and growth.