Services trade deficit shrinks 42.41pc in H1, exports increase 13.97pc in Dec
The exports of the country during July-January (2020-21) were recorded at $14.242 billion
ISLAMABAD (Dunya News) – The country’s services trade deficit contracted by 42.41 percent during the first half (H1) of the current financial year (2020-21) as compared to the corresponding period of last year.
The services trade deficit during July-December (2020-21) was recorded at $977.24 million against the deficit of $1696.80 million in July-December (2019-20), according to the latest data of Pakistan Bureau of Statistics (PBS).
The services exports during the six months under review grew by 0.31 percent and were recorded at $2844.12 million against the exports of $2835.36 million last year.
On the other hand, the imports into the country shrunk by 15.68 percent by falling from $4532.16 million to $3821.36 million, the PBS data revealed.
Meanwhile, on year-on-year basis, the services exports from the country increased by 13.97 percent and were recorded at $627.99 million in December 2020 against the exports of $551 million in December 2019.
On the other hand, the imports witnessed a slight increase of 0.15 percent by going up from $754.96 million in December 2019 to $756.12 million in December 2020, the data revealed.
On month-on-month basis, the exports from the country witnessed increase of 23.11 percent in December 2020 when compared to the exports of $510.10 million in November 2020.
On the other hand, imports into the country increased by 38.47 percent in December 2020 when compared to the imports of $546.05 million in November 2020, the PBS data revealed.
Meanwhile, the merchandize exports from the country increased by 5.53 percent during the first seven months of the current fiscal year (2020-21) as compared to the corresponding period of last year, PBS reported.
The exports of the country during July-January (2020-21) were recorded at $14.242 billion against the exports of $13.496 billion during July-January (2019-20), according to the latest PBS data.
The imports during the period under review also increased by 6.92 percent by growing from $27.316 billion last year to $29.205 billion during the first seven months of current fiscal year.
Based on the figures, the country’s trade deficit increased by 8.27 percent during the first seven months as compared to the corresponding period of last year. The trade deficit during the first seven months of the current fiscal year was recorded at $14.963 billion against the deficit of $13.820 billion last year.
