Pakistan earned foreign exchange worth $1,707 million from exports of various services during the first quarter (Q1) of the current fiscal year (2023-24), the Pakistan Bureau of Statistics (PBS) reported.
However, as compared to the services exports of $1,717 during July-September (2022-23), the external trade witnessed a slightly negative growth of 0.58 percent, according to PBS data.
Meanwhile, the services’ imports into the country increased by 18.10 percent by going up from $2,028 million last year to $2,395 million during the first three months of the current fiscal year.
Based on the figures, the services trade deficit increased by 121.28 percent during the period under review going up from $310 million last year to $688 million this year.
Meanwhile, on a year-on-year (YoY) basis, the services exports from the country increased by 1.08 percent going up from $565 million in September 2022 to $571 million during September 2023.
The imports also went up by 14.40 percent growing from $688 million to $787 million, according to PBS data.
On month on monthly (MoM) basis, the services exports decreased by 4.98 percent in September 2023 when compared to exports of $601 million in August 2023.—APP
