Pakistan services trade deficit narrowed by 80.99 percent during the first three quarters of the current fiscal year as exports surged by over 36.94 percent with imports showing negative growth of 4.33 percent
The overall services’ exports from the country were recorded at $5.336 billion during July-March (2012-13) against exports of $3.896 billion during July-March (2011-12), showing growth of 36.94 percent, according to data of Pakistan Bureau of Statistic (PBS).
On the other hand, the imports of services into the country during the first three quarters of the current year decreased by 4.33 percent by going down from last years imports of $ 5.994 billion to $5.735 billion, the data revealed.
Based on this data, the overall trade deficit during the period under review was recorded at $ 0.398 billion against the deficit of 2.097 billion during last year, showing a negative growth of 80.99 billion.
However on a year-on-year (YoY) basis, services exports from the country decreased by 2.91 percent in March 2013 as against the same month of last year.
Exports of services during March 2013 stood at $0.440 billion against exports of $0.454 billion during March 2012.
On the other hand, imports of services into the country witnessed nominal increase of 0.28 percent, going up from $0.667 billion during March 2012 to $0.668 billion in March 2013, the PBS data revealed.
On a month-on-month (MoM) basis, exports as well as imports of services increased by 33.10 percent and 22.50 percent, respectively, during March 2013 against February 2013. According to the PBS data, exports of services during February 2013 were recorded at $0.331 billion whereas imports stood at $0.546 billion.
