Services exports up 4.72pc in two quarters

ISLAMABAD: The services exports during first half of fiscal year 2017-18 rose to $2.58 billion compared to the exports of $2.46 billion in same period of previous year, thus posting an increase of 4.72 per cent.

Similarly the imports of services also registered an increase of 9.01 per cent as it reached to $5.14 billion in Jul-Dec 2017-18 from $4.7 billion in first six months of fiscal year 2016-17, according to a latest data released by Pakistan Bureau of Statistics (PBS).

The services trade deficit however widened by 13.7 per cent as it rose to $2.56 billion in Jul-Dec 2017-18 from $2.25 billion in same period of preceding year.

On month-on-month basis, the trade deficit shrank by 6.7 per cent to $436 million in December 2017 from $468 million in November 2017 as the exports jumped by 18 per cent while imports witnessed increase of only 4.8 per cent.

The services exports during the month posted as $471 million while in November 2017 it was recorded at $398 million. Similarly the imports of services also increased from $866 million in November 2017 to $907 million in December 2017.

On year-on-year basis, the exports increased by 3.13 per cent in December 2017 while import registered an increase of 7.34 per cent.