Services Trade Deficit Shrinks 52.37 Pc In 3rd Quarter

ISLAMABAD, May 8 (UrduPoint / Pakistan Point News - 8th May, 2021 ) :The country's services trade deficit contracted by 52.37 percent during the first three quarter 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).

The services exports during the period under review witnessed increase of 0.61 percent and were recorded at $4371.95 million against the exports of $4345.55 million last year.

On the other hand, the imports into the country shrunk by 20.42 percent by falling from $7206.14 million to $5734.48 million, the PBS data revealed.

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 increased by 16.08 percent by going up from $584.09 million in March 2020 to $678.01 million in March 2021, the data revealed.

On month-on-month basis, the exports from the country however witnessed increase of 15.82 percent in March 2021 when compared to the exports of $486.93 million in February 2021.

On the other hand, imports into the country increased by 7.95 percent in March 2021 when compared to the imports of $628.05 million in February 2021, the PBS data revealed.

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