Services trade deficit shrinks 52.37 pc in 3rd quarter

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Observer Report
Islamabad

The country’s services trade deficit contracted by 52.37 percent during the first three quarter of the current financial year (2020-21) as compared to the corresponding period of last year.

The services trade deficit during July-March (2020-21) was recorded at $1362.53 million against the deficit of $2860.59 million in July-March (2019-20), according to the latest data of Pakistan Bureau of Statistics (PBS).

The services exports during the period under review witnessed increase of 0.61 percent and were recorded at $4371.95 million against the exports of $4345.55 million last year.

On the other hand, the imports into the country shrunk by 20.42 percent by falling from $7206.14 million to $5734.48 million, the PBS data revealed.

Meanwhile, on year-on-year basis, the services exports from the country increased by 31.72 percent and were recorded at $563.95 million in March 2021 against the exports of $428.14 million in March 2020.