Services exports from the country during first five months of the current financial year grew by 7.8 percent as compared to the exports of the corresponding period of the last year.
During the period form July-November, 2024 services worth $3.275 billion were exported as compared to the exports of $3.044 billion of the same period of the last year, according to the trade data released by the Pakistan Bureau of Statistics.
During the period under review services imports into the country also grew by 2.88 per cent as it was recorded at $4.425 billion as against the imports of $4.301 billion of the same period of the last year, it added.
In first five months of the current financial year, the services trade deficit contracted 9.48 percent as compared to the five months of the last financial year, the data reveled.
On year on year basis, the services exports from the country during the month of November 2024 grew by 6.15 percent as it was recorded at $657.69 million as compared to the exports of $634.39 million of the same month of the last year, it added.
Meanwhile, the services imports into the country grew by 4.60 percent and reached to $828.56 million in November 2024 as compared to the imports of $792.15 million of the month of November 2023, it added .
On year on year basis, the services trade balance narrowed by 3.10 percent as compared to the trade balance of the same period of the last year, the data reveled.
On month on month basis, the services exports from the country decreased by 1.76 percent in November 2024 against the month of October 2024 as it was recorded at $675.69 million as compared to the exports of $687.79 million, it added.
Meanwhile, services imports went also down by 13.07 percent during the period under review as it was recorded at $828.56 million as against the imports of $953.16 million of the previous month (October), it added.—Agencies
