This pushed IT exports for the first four months of FY26 to $1.4 billion, reflecting a strong 20% YoY increase. Export proceeds per day were recorded at $16.78 million in October, compared with $16.64 million in September.
The YoY growth in IT exports during the month was attributed to IT companies expanding their client base globally, particularly in the GCC region, and to the State Bank of Pakistan (SBP)’s decision to increase the permissible retention limit from 35% to 50% in Exporters’ Specialised Foreign Currency Accounts. Other contributing factors included the allowance of equity investment abroad through these accounts and stability in the Pakistani rupee, which encouraged exporters to repatriate a higher portion of their profits.
According to a Pakistan Software Houses Association (P@SHA) survey, 62% of IT companies are maintaining specialised foreign currency accounts. Topline Research’s Sania Irfan stated that, “SBP’s introduction of Equity Investment Abroad (EIA), allowing IT exporters to acquire interest in entities abroad using up to 50% proceeds from specialised foreign currency accounts, will continue to boost the confidence of IT exporters to remit proceeds back to Pakistan.”
Net IT exports (exports minus imports) stood at $335 million in October, up 12% YoY and 2% MoM, higher than the 12-month average of $292 million. The government has set an IT export target of US$5 billion for FY26, while “Topline expects exports to grow by 18-20% to around $4.5 billion,” said Irfan.