Services exports up 33.64 percent in 11 months of 2012-13

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The services trade deficit during first 11 months of fiscal year 2012-13 decreased by 63.24 percent as compared to same period of last year as its exports surged by 33.64 percent while its imports fell by 2.73 percent during July-May (2012-13). The services exports from the country were recorded at $6.15 billion during July-May in contrast to $4.6 billion during the same period last year according to the data of Pakistan Bureau of Statistic (PBS). Moreover, the imports of services into the country during first 11 months of current year decreased by 2.73 percent by going down from $7.367 billion to $7.166 billion in the same time period, the data revealed. Based on this data, the services trade deficit increased by 30.49 percent between April and May 2013 while it decreased by 14.38 percent in contrast to May 2012. The exports of services stood at $353 million and $401.02 million in May 2012 and 2013 respectively, showing a decrease of 14.38 percent. The imports fell by 0.93 percent from $734.18 million to $727.38 million during the same period. Between April and May of 2013 exports fell by 1.64 percent while imports increased by 10.58 percent.