Pakistan’s export of services grew by 9.85% in the first nine months of 2024-25, reaching $6.24 billion compared to $5.68 billion during the same period last year, according to data released by the Pakistan Bureau of Statistics.
The growth was primarily fueled by increased demand for telecommunications, computer, and information services. Despite this overall growth, there was a 6.50% decline in services exports in August 2024.
In rupee terms, services exports saw a 7.41% increase, totaling Rs1.734 trillion in 9MFY25 compared to Rs1.616 trillion in FY24. March 2025 recorded a growth of 4.89%, with services exports reaching $743.32 million, up from $708.66 million in March 2024.
Telecommunications, computer, and information services saw a significant rise of 23.68%, with exports reaching $2.825 billion during July-March 2025, up from $2.284 billion in the same period the previous year. Other business services grew by 2.07% to $1.229 billion, while transport services saw an impressive increase of 31.56% to $742 million.
On the other hand, travel services recorded a 2.83% decline, with exports totaling $549 million.
In the previous fiscal year (FY24), services exports had posted modest growth of 2.77%, amounting to $7.8 billion, up from $7.59 billion in FY23. Pakistan also emerged as the second-highest country globally in terms of freelancers, with IT products being exported to 170 countries. To support freelancers, the government has introduced a new framework to simplify bank account openings and facilitate higher foreign currency holdings.
The government has set an ambitious target of $15 billion in IT exports over the next five years.
While services exports have been rising, the import of services also saw an increase of 6.89% in March 2025, reaching $970.14 million. Over the nine-month period, the import of services grew by 8.74% to $8.552 billion compared to $7.865 billion last year. The increase in service imports was primarily driven by higher transport and travel payments, with transport services increasing by 2.78% to $3.653 billion and travel services rising by 9.45% to $1.876 billion.
The overall services trade deficit increased by 6.27% to $2.317 billion during the first nine months of FY25, compared to $2.181 billion in the same period of the previous year. In March 2025, the trade deficit in services rose by 14.03% to $226.82 million compared to $198.91 million in March 2024.
