IT exports to Saudi Arabia have increased, says leading exporter

ISLAMABAD: Information Technology exports to Saudi Arabia increased by $100 million, as the industry has started to show its true potential to be transformational for the economy of the country.

This was stated by Noman Said, one of the leading IT exporters of Pakistan while talking to media.

He stated 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 is the cornerstone of the encouraging, 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.

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.

He further stated 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.

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

He stressed that the formation of the special investment facilitation council (SIFC); and, coupled with it, declaring information technology as one of their focal areas has proven to be transformational. He also acknowledged the collective endeavours of industry under the umbrella of 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.

Copyright Business Recorder, 2024