Pakistan's exports of services increase in six months

By APD writer Muhammad Sohail

ISLAMABAD, Feb. 17 (APD) -- Pakistan’s exports of services posted a paltry growth of nearly five percent in the first half of this fiscal year ranging from July 2017 to June 2018, according to the figures released by the Pakistan Bureau of Statistics.

The country’s exports’ of services surged to 206 billion U.S. dollars year-on-year basis.

A growth of three percent was seen in services exports in December 2017 as it went up to 471 million U.S. dollars against the same period last fiscal year. Data showed that the export of services rebounded from a negative growth in December 2017.

Last year, exports of services recorded a growth of 1.76 percent year-on-year to 5.55 billion U.S. dollars.

The import of services posted a growth of nine percent to 5.2 billion U.S dollars in July-December of 2017 from 4.7 billion U.S dollars over the corresponding period of last year.

On monthly basis, the imports of services went up seven percent to 907.8 million U.S. dollars.

In the year 2016-17, import of services increased 2.96 percent year-on-year to 9.12 billion U.S. dollars.

The trade deficit in services increased by 13.7 percent in the first half of the current fiscal year owing to upward trends in the import of services.

The trade deficit edged up to 2.56 billion U.S. dollar from 2.25 billion U.S. dollar during the period under review.

The deficit went up by 12.3 percent in December year-on-year to 436.78 million U.S. dollars.

(ASIA PACIFIC DAILY)