ISLAMABAD, Pakistan: The export of services during February 2017 witnessed a sharp increase of 95.10 percent to $668.33 million from $342.55 million in January 2017.
The imports on the other hands witnessed a nominal increase of 5.92 percent from $614.52 million in January 2016 to $650.92 million in February 2017.
According to data released by Pakistan Bureau of Statistics (PBS) on Wednesday, the trade deficit during the period under review also narrowed by 106.4 percent as it went down to $17.41 million from $271.97 million.
On yearly basis, the trade deficit also narrowed by 108.19 percent as the exports jumped by 90.31 percent and the imports witnessed an increase of 15.45 percent in February 2017 as compared to same month of the previous year.
The exports of services trade increased to $668.33 million in February 2017 from $351.18 million in February 2016 while the imports increased from $563.82 million in February 2016 to $650.92 million in February 2017.
The trade deficit during the period under review narrowed to $17.41 million in February 2017 from $212.64 million in February 2016. The Services deficit widened by 10.09 percent in first eight months of current fiscal year as the exports went down by 2.98 percent and the imports increased by 1.35 percent during the period under review as compared to same period of previous year.
The services trade deficit in July-February (2016-17), however increased to $1.985 billion from $1.803 billion in July-February (2015-16).
The exports of services from the Country decreased from $3.637 billion in July-February (2015-16) to $3.528 billion in July-February of the current fiscal year.
Similarly the imports in to the Country rose to $5.514 billion in first eight months of current fiscal year from $5.44 billion in same period of the preceding year.
