Pakistan’s services Export marked a strong revival in September as they recorded a growth of ~13% by reaching $463.16 million the data from Pakistan Bureau of Statistics (PBS) reveals.
Pertinent to note here is the fact that July and August months witnessed negative growth in the export of services.
Resultantly, the service exports between July-September period decreased by 5% to $1.225 billion as against $1.295bn over the same period last year.
Exports of Services have declined over last couple of years as they stood at $5.45bn in FY2019-20 while same was $5.966bn in year before that. marking a declining trend.
On monthly basis, the Services exports marked an increase of 30% in September 2020 as compared to August-2020 Services exports of $356.97.
On the other side, Pakistan’s trade deficit for Goods marked a decline of 1.9% during the first four months of FY21 as compared to the deficit of the corresponding period of last year.
PBS data reveals that the deficit during the period was recorded at $7.577 billion as compared to the deficit of $7.722 billion last year.