Islamabad
The country’s services trade deficit contracted by 50.41 percent during the first two months of the current financial year (2019-20) as compared to the corresponding period of last year.
The services trade deficit during July-August (2020-21) was recorded at $462.07m against the deficit of $931.77m in July-August (2019-20), according to the latest data of Pakistan Bureau of Statistics.
The services exports during the two months under review were recorded at US $ 758.05 million against the exports of US $884.14m last year, showing decline of 14.26 percent. The imports into the country also shrunk by 32.81 percent by falling from US $ 1815.91m to US $ 1220.12m, the PBS data revealed. Meanwhile, on year-on-year basis, the services exports from the country decreased by 16.79 percent and were recorded at $352.92 million in August 2020 against the exports of $424.15 million in August 2019.—APP
