Services' Exports Jump 14.28 Percent In October
Mohammad Ali (@ChaudhryMAli88) Published December 16, 2018 | 07:12 PM
ISLAMABAD, (UrduPoint / Pakistan Point News - 16th Dec, 2018 ) :The exports of services from the country surged by 14.28 percent to $470 million in October against the exports during same month of previous year.
The trade deficit of services also fell sharply by 49.05 percent during the month as it decreased to $195 million against the trade deficit of $382 million in same month of previous year, according to latest data of Pakistan Bureau of Statistics (PBS).
The imports of services declined by 16.25 percent to $665 million in the corresponding month as compared to import of $794.02 million in October 2017.
Meanwhile the trade deficit of services during first four months of current fiscal year (2018-19) also shrank by 33.75 percent as exports increased by 2.13 percent and imports fell by 15.47 percent during the period under as compared to the period from July-October (2017-18).
The data shows that the service trade deficit contracted to $1.
099 billion during July-October 2018-19 from $1.658 billion in same period of last year.The services exports also increased to $1.76 billion from $1.723 billion in first four months of previous year whereas the imports during the period under review were recorded at $2.859 billion against imports of $3.38 billion in the corresponding period of last year. It is pertinent to mention here that merchandize exports during first five months of current fiscal year increased by 1.29 percent as compared to the exports of corresponding period of last year.The exports from the country during the period under review reached to US$ 9.12 billion against exports worth of $9.004 billion during same period of previous year, according to latest data released by Pakistan Bureau of Statistics (PBS) on Tuesday.The trade deficit during July-November (2-018-19) shrank by 2.03 percent to $14.513 billion against $14.814 billion recorded during first five months of last fiscal year.
Recent Stories
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
Wafaqi Mohtasib inspection team visits Excise and taxation office
AJLAC announces 5th Conference titled ‘People’s Mandate: Safeguarding Civil ..
Pak-US officials engage to enhance trade, investment ties
IBCC to promote educational excellence, expand regional presence
Pakistani 'Blue Helmets' serving UN Peacekeeping Mission in DR Congo set to leav ..
Putin says plans to visit China in May
More Stories From Business
-
Chinese minister felicitates Ahsan Iqbal on reappointment as Planning minister
3 hours ago -
Pak-US officials engage to enhance trade, investment ties
4 hours ago -
Stocks fall as tech shares sink, US economy slows
5 hours ago -
Higher taxes, awareness help decrease cigarettes sale in Pakistan
6 hours ago -
Ahsan Iqbal chairs CPEC JWGs, 13th JCC review-meeting
6 hours ago -
Industries Minister recommends urea fertilizer import to stabilize prices and supply
6 hours ago
-
Honda announces US$11 bn EV battery and vehicle plant in Canada
6 hours ago -
Zhao Shirin calls on Punjab Industries Minister
6 hours ago -
CEO APM Terminals calls on Finance Minister
7 hours ago -
SACM visits GTVC checks attendance register
7 hours ago -
CEO APM Terminals meets Commerce Minister
7 hours ago -
RTO destroys huge quantity of non-duty paid cigarettes
7 hours ago