External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Thematic (Sector/Industry)

Pakistan Software / Thematic (Sector/Industry)

<ul><li>Pakistan recorded monthly IT exports of US$310mn, up by 62% YoY and by 1% MoM in Apr-2024. This is the highest ever export number in a single month with previous highest being US$306mn in Mar-2024. These monthly IT exports in Apr-2024 are higher than last 12-month average of US$245mn.</li><li>YoY jump in IT exports is due to (1) IT export companies growing in the GCC region especially Saudi Arabia, (2) relaxation in the permissible retention limit by the State Bank of Pakistan, increasing it from 35% to 50% in the Exporters' Specialized Foreign Currency Accounts, and (3) stability in PKR encouraging IT exporters to bring higher portion of profits back to Pakistan.</li><li>In 10MFY24 IT exports clocked in at US$2.59bn, up by 21% YoY compared to US$2.14bn recorded in 10MFY23.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Pakistan recorded monthly IT exports of US$310mn, up by 62% YoY and by 1% MoM in Apr-2024. This is the highest ever export number in a single month with previous highest being US$306mn in Mar-2024. These monthly IT exports in Apr-2024 are higher than last 12-month average of US$245mn.YoY jump in IT exports is due to (1) IT export companies growing in the GCC region especially Saudi Arabia, (2) relaxation in the permissible retention limit by the State Bank of Pakistan, increasing it from 35% to 50% in the Exporters' Specialized Foreign Currency Accounts, and (3) stability in PKR encouraging IT exporters to bring higher portion of profits back to Pakistan.In 10MFY24 IT exports clocked in at US$2.59bn, up by 21% YoY compared to US$2.14bn recorded in 10MFY23.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pakistan Technology - Highest Ever Monthly IT Exports Recorded in Apr-2024