Services’ exports up by 17.71pc in 11 months



The exports of services from the country witnessed an increase of 17.71 percent during the first eleven months of the current financial year (2021-22) as compared to the corresponding period of last year, the Pakistan Bureau of Statistics (PBS) reported.

The exports of services during July-May (2021-22) were recorded at US$ 6,318.11 million against the exports of US$5,367.36 million during July-May (2020-21), showing a growth of 17.71 percent.

The services’ imports also rose by 35.49 percent growing from US$ 7,590.19 million last year to US$10,284.29 million during the period under review.

Based on the figures, the services trade deficit was recorded at the US $ 3,966.18 million this year against the deficit of US $ 2,222.83 million during the last fiscal year, showing an increase of 78.43 percent.

On a year-on-year basis, the services exports during the month of May 2022 grew by 9.38 percent to US$ 514.11 million against the exports of US $ 470.02 million during May 2021.

The imports also grew by 48.50 percent from US$602.05 million last May to the US $ 894.04 million in May 2022, according to the data.

On a month-on-month basis, the exports from the country declined by19.93 percent as compared to the exports of US $ 642.10 million in April 2022. The imports also went down by 13.96 percent as compared to the imports of US $1,039.07 million in April 2022, the data revealed.


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