Services trade deficit contracts 43.45% as exports increase by 9.19% in FY21
The services trade deficit during July-June (2020-21) was recorded at $1875.22 million
ISLAMABAD (APP) - The country’s services trade deficit contracted by 43.45 percent during the fiscal year 2020-21 as compared to the corresponding period of the previous year (2019-20).
The services trade deficit during July-June (2020-21) was recorded at $1875.22 million against the deficit of $3315.97 million in July-June (2019-20), showing decline of 43.45 percent, according to the latest data of Pakistan Bureau of Statistics (PBS).
The services exports during the period under review witnessed increase of 9.19 percent and were recorded at $5937.27 million against the exports of $45437.40 million last year.
On the other hand, the imports into the country shrunk by 10.75 percent by falling from $8753.37 million to $7812.49 million, the PBS data revealed.
Meanwhile, on year-on-year basis, the services exports from the country increased by 53.56 percent and were recorded at $579.03 million in June 2021 against the exports of $377.08 million in June 2020.
On the other hand, the imports declined by 7.31 percent by going down from $644.11 million in June 2020 to $597.04 million in June 2021, the data revealed.
