Services exports record over $400 million increase in Jul-Aug

Business Recorder reported that services exports grew by more than $400 million in July-August FY27, citing State Bank of Pakistan data. Exports of services reached $1.811 billion, compared with $1.405 billion a year earlier, a gain of $406 million or about 29 per cent. Services therefore outpaced goods over the first two months of FY27.

Goods exports, by comparison, rose by about $217 million to $5.455 billion, up from $5.238 billion last year. The IT sector and freelancers were the largest contributors, generating roughly $952 million of services receipts. Government services, covering consular and military services, added around $122 million, while recreational and cultural services earned about $18.5 million and financial services approximately $13 million.

Muhammad Zohaib Khan, former chairman of P@SHA, said consistent policies and closer collaboration among stakeholders could lift monthly IT receipts to $450 million from about $420 million. He added that this could bring the country nearer to the Uraan Pakistan goal of $10 billion in IT exports by FY29. Ibrahim Amin, chairman of PAFLA, said freelancing gives young people and students a route to in-demand skills and foreign exchange earnings, though only a limited number of the roughly three million active freelancers know about available incentives.