ISLAMABAD: The country’s services trade deficit contracted by 53.01 percent during the first ten months of the current financial year (2020-21) as compared to the corresponding period of last year.
The services trade deficit during July-April (2020-21) was recorded at $1420.55 million against the deficit of $3022.79 million in July-April (2019-20), according to the latest data of Pakistan Bureau of Statistics (PBS).
The services exports during the period under review witnessed increase of 4.18 percent and were recorded at $4896 million against the exports of $4699.37 million last year.
On the other hand, the imports into the country shrunk by 18.20 percent by falling from $7722.16 million to $6316.55 million, the PBS data revealed.
Meanwhile, on a year-on-year basis, the services exports from the country increased by 48.38 percent and were recorded at $524.99 million in April 2021 against the exports of $353.82 million in April 2020.
On the other hand, the imports also witnessed an increase of 12.81 percent by going up from $516.02 million in April 2020 to $582.10 million in April 2021, the data revealed.
On a month-on-month basis, the exports from the country witnessed decline of 6.75 percent in April 2021 when compared to the exports of $563.01 million in March 2021.
On the other hand, imports into the country also decreased by 7.31 percent in April 2021 when compared to the imports of $628.03 million in March 2021, according to PBS.