KARACHI: Services trade deficit during the first 04 months of the current financial year shrunk by 9.64 percent as compared to the corresponding period of the last year, Pakistan Bureau of Statistics reported on Wednesday.
During the period from July-October, 2024, the services trade balance was recorded at $993.24 million was against the $1.009.24 billion of the same period of the last year, it added.
In the first four months of the current financial year, services exports grew by 7.91 percent and imports increased by 2.41 percent respectively as services worth $2.600 billion were exported from the country as compared to the exports of $2.409 billion of the same period of the last year, it added.
Meanwhile, the imports of services into the country in the first four months of the current financial year were recorded at $3.593 billion as against the imports of $3.509 billion of the same period of the last year, it added.
On month on month basis, the services traded deficit contracted by 26.79 percent as services exports grew by 13.43 percent and imports by 16.82 percent, it added.
In October 2024, services valued at $688.95 million were exported as compared to exports of $607.37 million, whereas imports of services were registered at $950.08 million as compared to the imports of $813.32 million.
On year on year basis, the services trade deficit widened by 1.02 percent in October 2024 as compared to the same month of the last year as services valued at $688.95 million were exported as compared to the exports of $661.91 million of the same period of the last year.
As compared to the month of October 2023, the services trade imports into the country grew by 3.22 percent as it was recorded at $950.08 million in October 2024 as compared to the imports of $920.40 million of the same month of the last year.
