6% Increase in Services Exports in First Quarter with SIFC Collaboration

Islamabad: Services exports saw a 6% growth in the first quarter of the fiscal year 2024-25, thanks to the collaboration with the Special Investment Facilitation Council (SIFC). The growth is largely attributed to a significant rise in the IT sector, which played a pivotal role in strengthening Pakistan’s economy and boosting service exports.
During the first quarter of FY 2024-25, services exports reached $1.91 billion, marking a 6% increase compared to the previous year. In September, services exports surged by 17.04%, totaling $656.99 million, while monthly service exports also saw a 6.55% increase, amounting to 530.74 billion rupees.
The IT sector, particularly software, web development, mobile applications, digital marketing, and AI products, contributed significantly to the growth. In addition, a new freelancing framework has been introduced to ease banking access for freelancers and streamline fund retention processes.
Ongoing reforms supported by SIFC aim to continue driving growth in services exports, further strengthening Pakistan’s position in the global market.