Services trade deficit narrows by 29pc in six months

LAHORE: Trade deficit in services shrank by 29.1 percent to $1.946 billion duringt July-December of the current fiscal year as against $2.745 billion in the corresponding period last year, Pakistan Bureau of Statistics (PBS) latest data showed.

In July-December, imports of services declined 16 percent to $4.546 billion, while services exports slightly dropped 2.42 percent to $2.6 billion.

In December, trade deficit in services shrank 21 percent year-on-year to $420 million.

Services exports, during the month, slid 12 percent year-on-year to $462.1 million, while imports of services decreased 16.2 percent year-on-year to $882 million.

In December, trade deficit in services widened 14.4 percent from $367 million in the preceding month. Services exports increased 20.1 percent from $385 million in November 2018, while imports of services rose 17.3 percent from $752 million. [the_ad id=”31605″]

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