Services trade statistics: Deficit narrows by 104.6%

The services’ exports from the country were recorded at $2.563 billion climbing 53.4% during July-October.

ISLAMABAD: The services trade deficit during the July-October of fiscal 2013 period narrowed 104.6% compared to the corresponding period last year. The services’ exports from the country were recorded at $2.563 billion climbing 53.4% during the period, data from Pakistan Bureau of Statistic (PBS) shows. On the other hand, the imports of services decreased 3.96% to $2.519 billion, the data revealed. Thus, the services trade witnessed a surplus of $0.44 billion during the period under review against a deficit of $0.95 billion last year. On a monthly basis, exports of services, however, decreased 7.81% to $0.48 billion and imports increased 1.65% to $0.69 billion during October compared to same month of the preceding year. When compared to exports of $0.31 billion during September 2012, October witnessed a climb of 42.1%, while imports of services increased 11.18% compared to imports of $0.63 billion in September.

Published in The Express Tribune, December 18^th, 2012.