Pakistan services exports grew 22.6% to $2.72bn in July-September, the first quarter of the 2026-27 fiscal year, up from $2.22bn a year earlier, according to Pakistan Bureau of Statistics data reported by Dawn. Computer, telecom and information services did most of the work. But services imports also rose, by 16.3% to $3.55bn, so the services trade deficit was almost unchanged at $832m.
The short version
- Services exports reached $2.72bn in Q1 FY27, up 22.6% year on year.
- Telecom, computer and information services earned $1.246bn, up 17.7%, according to SBP data.
- Services imports rose 16.3% to $3.55bn, led by transport and travel.
- The quarterly services deficit was $832m, but September’s gap widened 84% to $283m.
What happened
Pakistan services exports have grown every month since the fiscal year began, the PBS data show. In September alone they rose 15.4% to $929.9m from $806.1m. State Bank of Pakistan data cited by Dawn show telecom, computer and information services exports of $435m in September, up 18.2% from $368m, the second-best month on record, as Knock-On reported when the September IT figures came out.
Other business services, which include consulting, accounting and similar work, grew faster still: up 28% to $622m in the quarter. Transport services exports rose 9.7% to $295m.
Services exports grew faster than imports, but from a lower base
Pakistan services trade, July-September, US$ billion
Why it matters
Goods exports are moving slowly: Dawn reports that the goods trade deficit reached $3.9bn in October alone. Services are one of the few export lines growing at double digits, and IT earnings need little imported raw material. Strong services receipts support the dollar inflows behind Pakistan’s record forex reserves. The catch is that Pakistan buys more services than it sells, mostly freight and travel, so higher trade volumes and travel spending eat into the gains.
The knock-on effects
First order: more dollars from IT and business services
Software houses, freelancers, call centres and consulting firms brought in about $500m more in the quarter than a year earlier. That money flows into local salaries and office spending.
Second order: import growth limits the gain
Services imports grew by about the same dollar amount, so the quarterly deficit fell only 0.3%. In September the gap widened 84% to $282.8m, as services imports jumped 26.4% to $1.21bn.
Third order: the export target needs services
Services exports reached $10.04bn in FY26. The government’s goal of $100bn in exports by 2035 depends heavily on services keeping this pace while goods exports remain slow.
Who could benefit
- IT and software exporters: steady growth supports hiring and expansion.
- Business services firms: consulting and back-office exports grew 28%.
- Office landlords and tech parks: in cities where these firms are growing.
Who may face pressure
- Importers and traders: freight is the largest services import, and higher shipping bills add to costs.
- The current account: a widening monthly services gap adds to the goods deficit.
What to watch
- October services trade data from PBS and SBP, due in the coming weeks.
- Whether monthly IT exports pass the September level of $435m.
- Freight costs, which drive the largest services import line.
Sources
- Dawn, IT earnings drive 22.6pc growth in services exports, 8 November 2026
- Dawn, Stocks rally 7,477 points in strong weekly recovery, 8 November 2026
This is analysis, not investment advice. Figures are as of 8 November 2026.
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