The services trade deficit during July-November (2012-13) decreased by 78.91 percent as compared to same period of last year as its exports surged by 41.6 percent with imports showing negative growth of 2.11 percent during first five months of the current fiscal year. The services’ exports from the country were recorded at $2.937 billion during July-November against the exports of $2.074 billion during July-November (2010-11), showing growth of 41.6 percent, according to the data of Pakistan Bureau of Statistic (PBS). On the other hand, the imports of services into the country during first five months of current year decreased by 2.11 percent by going down from last year’s imports of $3.255 billion to $3.186 billion, the data revealed. Based on this data, the services trade deficit in November 2012 increased by 8.22 percent and 25.03 percent when compare it with October 2012 and November 2011 respectively. The exports of services during November 2012 were recorded at $346.19 million against the exports of $403.05 million in November 2011 showing a decrease of 14.11 percent while imports during November 2012 edged up by 0.04 percent going up from $631.11 million to $631.34 million in November 2012. As compared to the exports of $470.76 million during October 2012, the exports during November 2012 decreased by 26.46 percent, while imports of services during November 2012 also decreased by 14.02 percent as compared to the imports of $734.25 million in October 2012.
This also shows that Pakistan's heavy industry is taking off despite the lack modern utility vehicles. This will also boost trade within the region as the trucking or manual shipping industry is receiving surplus trucks and equipment from bilateral trade agreements.
Comments are closed.