Pakistan’s IT sector has achieved a remarkable milestone by recording its highest-ever monthly exports of US$437 million in December 2025, according to the latest data released by the State Bank of Pakistan and analyzed by Topline Securities.
This figure represents an impressive 26% year-on-year increase and a strong 23% month-on-month surge compared to November, marking the first time monthly IT exports have crossed the $400 million threshold and significantly surpassing the previous 12-month average of $341 million.
The robust performance in December has helped push first-half FY26 IT exports to approximately US$2.2 billion, reflecting around 20% growth over the same period last year.
Several factors have contributed to this acceleration, including the continued expansion of the client base particularly in the GCC region, the State Bank’s relaxation of foreign currency retention limits to 50%, the introduction of the Equity Investment Abroad facility allowing exporters to invest up to 50% of proceeds overseas, and the relative stability of the Pakistani rupee which has encouraged more timely and higher repatriation of profits.
Net IT exports (after adjusting for imports) also showed exceptional strength, reaching US$377 million in December — a remarkable 70% year-on-year and 22% month-on-month increase — well above the recent 12-month average.
Analysts at Topline Securities remain optimistic about the sector’s trajectory, projecting 18–20% growth for the full FY26, which could bring total IT exports close to the government’s ambitious US$5 billion target. Looking further ahead, the ‘Uraan Pakistan’ economic vision has set an even more aspirational goal of US$10 billion in IT exports by FY29.
Within the listed IT space, Systems Limited (SYS) continues to stand out as a preferred investment pick, currently trading at attractive forward valuations of approximately 20.9x for 2025E and 13.7x for 2026E, making it one of the more compelling opportunities in Pakistan’s fast-growing technology sector.