Pakistan’s trade deficit in the services sector during the financial year 2020-21 decreased by 43.5 percent to $1.88 billion as compared to a deficit of $3.32 billion during the same period of the preceding financial year.
According to the figures released by the State Bank of Pakistan, on a sequential basis, the country’s trade deficit in services widened by 2.5 times on a month-on-month basis to $273 million. However, on a yearly basis, it posted a nominal increase of 2.2% YoY.
Details made available by the SBP revealed that the exports of services during FY21 amounted to $5.94 billion, i.e., up by 9.2 percent on a year-on-year basis. —TLTP