Pakistan earned $3,765.97 million by exporting various services during the first half of the current fiscal year 2023-24. The services’ imports into the country increased by 25.50 percent by going up from $4,140.42 million during the first six months of current fiscal year.
Based on the figures, the services’ trade deficit widened by 429.45 percent during the period under review by going up from $ 270.10 million last year to $1,430.06 million this year.
Meanwhile, on year on year (YoY) basis, the services’ exports from the country decreased by 6.93 percent by going down from $781.09 million in December 2022 to $726.94 million during December 2023.
On month on month (MoM) basis, the services exports increased by 15.20 percent in December 2023 when compared to exports of $631.03 million in November 2023.
It is pertinent to mention here that the merchandise exports from the country witnessed an increase of 7.89 percent during the first seven months of the current fiscal year 2023-34.
Based on the figures, the trade deficit during the first seven months of the current fiscal year was recorded at $13.167 billion against the deficit of $19.553 billion last year, showing a sharp decline of 32.66 percent.
