Ahmed Mukhtar Naqshbandi
ISLAMABAD: Pakistan’s services exports, during the first 6 months of the current fiscal year, increased by 2.77%, whereas imports decreased by 30.28% as compared to the same period of last year.
According to the latest data from the Pakistan Bureau of Statistics, from July to December 2022, services exports were recorded at 3.526 billion dollars as against the exports of 3.431 billion dollars in the corresponding period last year.
Meanwhile, services imports during the first 2 quarters of the current fiscal year fell from 5.571 billion dollars to 3.884 billion dollars during the period from July to December 2022, witnessing about a 30.28% percent reduction as compared to the same period of last year.
The services trade deficit reduced by 83.29% compared to the first 6 months of the last fiscal year, whereas on a year-on-year basis, the services trade deficit narrowed by 111.21%in December 2022 as compared to December 2021.
Exports in December
In December 2022, exports of services decreased by 3.16%, as it was recorded at 667.17 million dollars in contrast to the exports of 688.93 million dollars in December 2021.
Meanwhile, in December 2022, the services imports were reduced by 44.45%, as it was recorded at 619.40 million dollars as against the imports of 1.111 billion dollars in December 2021.
