Pakistan services sector exports decline by 53%

Pakistan services sector exports decline by 53%
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ISLAMABAD (APP): The exports of services from the country declined by 53.34 per cent during July, 2016 as compared to same period of the preceding year.

The services exports went down to $327.15 million in July 2016 from $701.21 million in July 2015, a latest data issued by Pakistan Bureau of Statistics (PBS) said.

Likewise the imports of services during the period under review also decreased by 4.96 percent.

The imports in July, 2016 were recorded at 617.50 million while during same period of last year, the imports stood at $649.72 million.

On month-on-month basis the services exports also plunged by 30.22 per cent to $468.80 million in June, 2016.

The imports of services also declined to $642.13 million in June, 2015 thus showing a decrease of 3.84 per cent in July, 2016.

The services trade deficit rose to $290.35 million in July, 2016 from a deficit of $173.33 million and a surplus of $51.49 million in June, 2016 and July, 2015 respectively.

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