Services’ trade deficit narrows by 38.05% as exports grow by 3.97%

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The services trade deficit shrank by 38.05 per cent as exports witnessed a growth of 3.97 per cent during the first four months of the current fiscal year as compared to the corresponding period of last year, the Pakistan Bureau of Statistics (PBS) reported.

According to PBS data, the exports from the country from July-October (2022-23) were recorded at $2,259.21 million against the exports of $2,172.85 million in July-October (2021-22), showing growth of 4.63 per cent.

On the other hand, the services’ imports declined by 11.83 per cent from US$ 3,483.37 million last year to US$3,071.13 million during the period under review. —APP