ISLAMABAD, Pakistan: The exports of services from the country increased by 0.65 per cent during first 10 months of current fiscal year (2016-17) as compared to same period of last year.
The exports increased from $4.677 billion in July-April (2015-16) to $4.708 billion in same period of current fiscal year.
Similarly, the imports of services also rose to $7.023 billion in July-April (2016-17) from $6.92 billion last year thus posting an increase of 1.48 per cent, latest data released by Pakistan Bureau of Statistics (PBS) said.
However, the services trade deficit expanded by 3.23 per cent during the corresponding period as it was recorded at $2.315 billion during current fiscal year compared to the deficit of $2.243 billion last year.
On yearly and monthly basis, the services trade deficit also expanded by 53.63 per cent and 524.39 per cent respectively as the trade deficit in April 2017 rose to $322 million from $210 million in April 2016 and $51 million in March 2017.
On month-on-month basis, the exports of services in April declined by 45.81 per cent while imports also fell by 6.65 per cent as compared to that of March 2017.
Similarly, on yearly basis the exports declined by 35.98 per cent to $380 million in April 2017, from $593 million in same month of last year whereas imports also decreased by 12.54 per cent from $803 million in April 2016 to $702 million in April, 2017.
