ISLAMABAD: Pakistan earned 3,765.97 million dollars by exporting different services during the first half of the current financial year (2023-24), the Pakistan Bureau of Statistics (PBS) reported on Monday.
The export of services during the corresponding period of last year was recorded at 3,870.32 million dollars, showing a decline of 2.70% during the first 6 months of the current fiscal year.
The services’ imports into Pakistan increased by 25.50%, going up from 4,140.42 million dollars last year to 5,196.02 million dollars during the first 6 months of the current fiscal year.
Based on the figures, the services trade deficit widened by 429.45% during the period under review, going up from 270.10 million dollars last year to 1,430.06 million dollars this year.
Meanwhile, on a year-on-year (YoY) basis, the services’ exports from Pakistan dropped by 6.93%, going down from 781.09 million dollars in December 2022 to 726.94 million dollars during December 2023.
The imports surged by 20.14%, growing from 734.12 million dollars to 881.93 million dollars, according to PBS data.
On month on month (MoM) basis, the services exports went up by 15.20% in December 2023 when compared to exports of 631.03 million dollars in November 2023.
Pakistan’s Imports on MoM Basis
The imports on an MoM basis also went up by 2.90% during the month under review when compared to imports of 857.04 million dollars in November 2023.
The merchandise exports from Pakistan witnessed an increase of 7.89% during the first 7 months of the current fiscal year (2023-34) compared to the same period of last year.
According to the latest PBS data, exports from Pakistan increased up to 17.782 billion dollars during July-January (2023-24) as against the exports of 16.481 billion dollars in July-January (2022-23), showing a growth of 7.89 percent.
On the other side, imports into Pakistan declined by 14.11% to 30.949 billion dollars this year against the imports of 36.034 billion dollars last year.
