ISLAMABAD: The country’s services trade deficit narrowed by 16.59 percent during 10 months of the current fiscal year mainly due to a sharp increase in exports of government services in April.
According to the latest data released by Pakistan Bureau of Statistics (PBS), the services’ trade deficit was recorded at $1.757 billion during July-April (2015-16) compared to the deficit of $2.106 billion witnessed during July-April (2014 15).
The imports into the country declined by 15.10 percent during the period under review. The imports during the period were recorded at $6.168 billion compared to the imports of 7.266 billion during last year.
On the other hand the exports of services were recorded at $4.411 billion during the period compared to the exports of $5.159 billion, showing negative growth of 14.5 per cent. Meanwhile, on year on year basis, the services imports into the country during the month of April 2016 witnessed decrease of 11.64 per cent.
The imports during April 2016 were recorded at $664.4 million compared to the imports of $751.93 million in April 2015.
The exports of services during April 2016 were recorded at $549.03 million compared to the exports of $404.37 million during April 2015, showing a surge of 35.77 per cent. On month on month basis, the imports during April 2016 witnessed increase of 11.41 percent compared to the imports of $596.33 million during March 2016.
The exports from the country during the month under review increased by 34.87 percent when compared to the exports of 407.07 million during March 2016, the PBS data revealed.
