AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,944 Increased By 65.8 (0.96%)
BR30 22,827 Increased By 258.6 (1.15%)
KSE100 67,142 Increased By 594.3 (0.89%)
KSE30 22,090 Increased By 175.1 (0.8%)
Pakistan

Pakistan spends $89mn for import of insurance services

This shows decrease of 3.62 percent when compared to $92.990 million spent on provision of such services during the
Published January 18, 2020
  • This shows decrease of 3.62 percent when compared to $92.990 million spent on provision of such services during the corresponding period of last year 2018-19.

ISLAMABAD: Pakistan spent $89.621 million by acquiring different foreign insurance services from various countries during the first four months of the financial year 2019-20.

This shows decrease of 3.62 percent when compared to $92.990 million spent on provision of such services during the corresponding period of last year 2018-19, Pakistan Bureau of Statistics (PBS) reported.

During the period under review, the direct insurance services dipped by 17.18 percent, from $26.010 to $21.541 million during July-October (2019-20).

Among the direct insurance services, the imports of life insurance services decreased by 85.81 percent, from $1.550 million to $0.220 million this year, while the import of freight insurance services also decreased by 40.93 percent, from $12.410 million to $7.331 million.

In addition, the other direct insurance services however increased by 16.10 percent, from $13.990 million to $12.050 million during the last year, the PBS data revealed.

Meanwhile, the import of auxiliary insurance services during the current year (2019-20), increased by 78.54 percent, from $1.714 million to $0.960 million last year, whereas the import of reinsurance services witnessed nominal increase of 0.52 percent, from $66.366 million to $66.020 million during the last year.

It is pertinent to mention here that the services trade deficit of the country during five months of current financial year decreased by 6.59% as compared the corresponding period of last year.

During the period from July-November, 2019-20, services exports grew by 2.95%, whereas imports reduced by 1.36%, according the data released by Pakistan Bureau of Statistics.

Services worth $2.165 billion exported in last five months as compared the exports of $2.103 billion in same period of last year, whereas imports of services into the country was recorded at $3.784 billion as against the imports of $3.836 billion, the data revealed.

 

Comments

Comments are closed.