Trade deficit in services soars by 39% YoY

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Pakistan’s trade deficit in services worsen by 39% YoY to $1.04bn during the 4M of the fiscal year 2022 from $750mn in the same period of the previous fiscal year.

According to the figures published by the State Bank of Pakistan, the trade deficit in services during the month of October’21 expanded by 30% YoY to $282mn from $217mn in the same month a year ago.

However, on a sequential basis, the country’s trade deficit in services swelled notably by 76% MoM from $160mn in September’21.

Details made available by SBP revealed that the exports of services during the month amounted to $532mn, i.e., up by 23% YoY while declining by 7% MoM. —TLTP

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