Services’ trade deficit shrinks by 49.50 %

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The services trade deficit narrowed by 49.50 per cent as exports witnessed a growth of 5.73 per cent during the first five 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 during July-November (2022-23) were recorded at $2,899.98 million against the exports of $2,742.84 million in July-November (2021-22), showing growth of 5.73 per cent.

On the other hand, the services’ imports declined by 15.51 per cent from US$ 4,456.41 million last year to US$3,765.41 million during the period under review.—APP