Services trade deficit shrank 17.46pc in 6 months
ISLAMABAD: The service trade deficit of the country witnessed decrease of 17.46 percent during the first six months of current financial year (2019-20) compared the corresponding period of last year (2018-19).
During the period under review, the country’s services exports grew by 6.11 percent, whereas imports reduced by 4.67 percent, according the data released by Pakistan Bureau of Statistics (PBS).
During the period from July-December (2019-20), Services exports reached $2.738 billion against the exports of $2.580 billion in the same period of last year.
Meanwhile, imports of services into the country were recorded at $4.533 billion as against the imports of $4.755 billion during last year, it added.
On year-on-year basis, the services trade deficit narrowed by 45.85 percent during the month of December 2019 as against the same month of last year.
The deficit in December 2019 was recorded at $239.23 million compared to the deficit of $441.82 million during December 2018.
During the month of December 2019, the exports increased by 10.38 percent as grew from $477.24 million during last year to $526.78 million during the same month of current fiscal year.
The imports during the month declined from $919.05 million to $766.01million in December 2019, the PBS data revealed.
Meanwhile, on month-on-month basis, the exports increased by 26.33 percent in December 2019 when compared to the export of $416.99 million in November 2019.
The Imports during the month under review also increased by 13.33 percent in December 2019 when compared to the imports of $675.90 million in November 2019. – APP