Services Trade Deficit Shrinks By 13.58% In July

Services trade deficit shrinks by 13.58% in July

The services trade deficit reduced by 13.58 per cent during first month (July) of current fiscal year to $497.6 million as compared to the deficit of $575 million during June this year.

ISLAMABAD, (UrduPoint / Pakistan Point News - 12th Sep, 2018 ) :The services trade deficit reduced by 13.58 per cent during first month (July) of current fiscal year to $497.6 million as compared to the deficit of $575 million during June this year.

According to details, the services export declined to $405.17 million in July 2018 against the export worth of $422.8 million during previous month, thus showing a decrease of 4.18 percent.

The import of services during the month also declined by 9.6 percent as it went down to $902.78 million from $998 million in June 2018, a latest data released by Pakistan Bureau of Statistics (PBS) reported.

On yearly basis, the services trade deficit expanded by 3.79 percent to $497.6 million in July 2018 against the deficit of $479 recorded during same month of previous year.

In July 2017, the export of services was recorded at $410 million while import was recorded at $890.3 million.

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