Services' exports surge 55.69 percent in 7 months

ISLAMABAD: Exports of services from Pakistan surged by 55.69 percent during the first seven months of current fiscal year as against the same period of last year.

The overall export of services was recorded at US$3.424 billion during July-January (2010-11) as against the exports of US$2.199 billion during the corresponding period of last year, According to data of Federal Bureau of Statistics.

The services that contributed in the positive growth in exports included transportation, exports of which grew by 6.15 percent by growing from US$740.456 million lat year to US$786.012 million.

The travel services exports increased from US$169.004 million last year to US$188.032 million this year, showing an increase of 11.26 percent.

The exports of communication services witnessed slight growth of 0.53 percent during the period by growing from US$143.969 million to US$144.737 million.

Exports of the construction services exports grew by 48.37 percent as these stood at US$13.172 million this year against the exports of US$8.876 million last year.

Exports of insurance services were recorded at US$27.229 million against exports of US$25.120 million, showing an increase of 8.40 million.

Similarly, computer and information services' exports increased by 8.04 percent, government services by 177 percent while the exports of other business service surged by 27.27 percent during the period, the FBS reported.

The service that witnessed negative growth in exports including financial service, exports of which declined by 54.20 percent. The exports of financial services were recorded at US$33.852 million against the exports of US$73.914 million last year.

Royal ties and license fees decreased by 21.62 percent while the exports of  personal, cultural and recreational services decreased by 75.97 percent.

However, on the other hand, the exports of services during January 2011 decreased by 71.63 percent as compared to the exports of December 2010. Services exports during January 2011 stood at US$333.976 million in January against the exports of US$1.1777 billion in December 2010.