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Services sector exports go down 3.79pc

Services sector exports go down 3.79pc

ISLAMABAD: The exports of services from the country witnessed decrease of 3.79 percent during the first eight months of the current fiscal year against the same period of last year.

According to the data of Pakistan Bureau of Statistics (PBS), the exports of services sector were recorded at $3.439 billion during July-February (2017-18) against the exports of $3.574 billion during July-February (2016-17), showing decline of 3.79 percent.

The imports into the country during the period under review increased by 10.03 percent, by going up from $6.334 billion last year to $4.970 billion during the current fiscal year.

Based on the figures, the services trade deficit during the first eight months of the current fiscal year increased by 27.94 percent by going up from deficit of $2.759 billion last year to $3.530 billion during the current year, the data revealed.

Meanwhile, the exports of services on year-on-year basis witnessed decline of 43.07 percent during February 2017 compared to the same month of the last year. The exports of services during February 2018 were recorded at $0.407 billion against the exports of $0.715 billion last year.

The imports into the country also increased from $0.789 billion last year to $838 billion during the current year, showing growth of 6.22 percent.

On month-on-month basis, the exports from the country increased by 0.38 percent by going up from $0.405 billion in January 2018 to $0.407 in February 2018.

The imports also increased by 0.83 percent by going up from $0.831 billion in January 2017 to $0.838 billion in February 2018.