ISLAMABAD: Pakistan’s services trade deficit witnessed a decline of 17.46pcduring the first six months of the current financial year (2019-20) ascompared to the corresponding period of last year (2018-19).
During the period under review, the country’s services’ exports grew by6.11pc, whereas imports reduced by 4.67pc, according to the data releasedby Pakistan Bureau of Statistics (PBS).
During the July-December 2019-20 period, services’ exports were recorded at$2.738 billion as against the exports of $2.580 billion in the same periodof last year. On the other hand, services’ imports into the country wererecorded at $4.533 billion as against the imports of $4.755 billion lastyear.
On a year-on-year basis, the services trade deficit narrowed by 45.85pc to$239.23 million in December 2019 as compared to the deficit of $441.82million in December 2018.
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During the month under review, the exports increased by 10.38pc, from$477.24 million last year to $526.78 million, whereas imports declined from$919.05 million to $766.01 million.
Meanwhile, on a month-on-month basis, the exports increased by 26.33pc inDecember 2019 when compared with the exports of $416.99 million in November2019. The imports during the month under review also increased by 13.33pcin December 2019 when compared to the imports of $675.90 million inNovember 2019.
