IT Exports to Saudi Arabia Increased by $100 Million

One of the top IT exporters of Pakistan, Noman Said, has apprised that the information technology industry has started to show its true potential to be transformational for the economy of Pakistan – and, IT exports to Saudi Arabia are the cornerstone of the encouragement, game-changing and progressive trend in IT export numbers of Pakistan; which have clocked at $310 million in April 2024.

This is the highest-ever despite having the highest month-on-month (MoM) base, he added.

Noman Said added that IT exports to Saudi Arabia have increased by $100 million per year over the last two years and the statistical analysis shows that Saudi Arabia is expected to become Pakistan’s largest IT export destination in a few years.

Noman Said maintained that March 2024 posted export numbers of $306 million – which was the highest historically by then. These consecutively increasing numbers show that the IT industry in Pakistan has outperformed other conventional sectors of the economy; and, is the most vibrant and forward-looking export industry of Pakistan.

Noman Said further deciphered the trade statistics by saying that the IT industry is the only industry that enjoys a trade surplus of 77 percent; and, one of the top most sectors when it comes to attracting FDI from Saudi Arabia.

He stressed that the formation of the Special Investment Facilitation Council (SIFC);, coupled with it, declaring information technology as one of its focal areas has proven to be transformational. He also acknowledged the collective endeavors of industry under the umbrella of the Pakistan Software Houses Association (P@SHA).

Noman Said reiterated his stance that LEAP 2024 was Pakistan’s most successful global IT exposition so far as a participant; which generated leads of up to $500 million. This effectively makes Saudi Arabia Pakistan’s partner in emerging technologies, he added.