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

IT Exports to Saudi Arabia Increased by $100 Million

Pakistan’s information technology industry is experiencing a transformative period, with IT exports to Saudi Arabia leading the charge. According to Noman Said, a top IT exporter, IT exports to Saudi Arabia have increased by $100 million per year over the last two years, with a total of $310 million in April 2024 – the highest-ever monthly figure.

This significant growth indicates that Saudi Arabia is likely to become Pakistan’s largest IT export destination in the near future. The IT industry has outperformed other conventional sectors, posting consecutive monthly increases, with March 2024 seeing a record $306 million in exports.

The IT industry boasts a trade surplus of 77% and is one of the top sectors attracting foreign direct investment (FDI) from Saudi Arabia. The formation of the Special Investment Facilitation Council (SIFC) and the declaration of information technology as a focal area have been instrumental in this success. The collective efforts of the industry, under the umbrella of the Pakistan Software Houses Association (P@SHA), have also played a crucial role.

Furthermore, Pakistan’s participation in LEAP 2024, a global IT exposition, generated leads worth up to $500 million, solidifying Saudi Arabia’s position as Pakistan’s partner in emerging technologies.