Services Trade Deficit Shrinks 52.37% In 3 Quarters
Faizan Hashmi 1 month ago Sun 09th May 2021 | 04:20 PM
ISLAMABAD, (UrduPoint / Pakistan Point News - 9th May, 2021 ) :The country's services trade deficit contracted by 52.37 percent during the first three quarters of the current financial year (2020-21) as compared to the corresponding period of last year.
The services trade deficit during July-March (2020-21) was recorded at $1362.53 million against the deficit of $2860.59 million in July-March (2019-20), according to the latest data of Pakistan Bureau of Statistics (PBS).
Meanwhile, on year-on-year basis, the services exports from the country increased by 31.72 percent and were recorded at $563.95 million in March 2021 against the exports of $428.14 million in March 2020.
On the other hand, the imports also witnessed an increase of 16.08 percent by going up from $584.
It is pertinent to mention here that the merchandize exports from the country increased by 13.49 percent during the first ten months of the current fiscal year. The exports from the country were recorded at $20.881 billion during July-April (2020-21) against the exports of $18.399 billion in July-April (2019-20).