Services exports up by 1.18pc in 10 months

ISLAMABAD   -   The exports of services during the first ten months of the current financial year increased by 1.18 percent as compared to the exports of the corresponding period of the last year.

During July-April 2023-24, exports of services were recorded at $6.441 billion as against the exports of $6.366 billion during the same period of last year, according to the data of the Pakistan Bureau of Statistics (PBS).

During the period under review, the services imports into the country grew by 20.77 percent and they were registered at $8.347 billion as compared to the import of $6.912 billion in the same period last year.

On a year-on-year basis, the services exports from the country grew by 16.59 percent in April 2024 as compared to the exports of the same month of last year. In April 2024, services valued at $646.03 million were exported as compared to exports of $554.10 million in the same month of last year.

The imports of services into the country also surged by 14.85 percent during the period under review as it was recorded at $833.03 million against $725.34. On month on month basis, the services exports decreased by 7.57 percent and imports by 2.22 percent respectively in April 2024 as compared to March 2024.

During April 2024, the services exports were recorded at $646.03 million as compared to the exports of $698.92 million of the previous month, whereas imports were registered at $833.03 million as compared to the imports of $851.90 billion of last month.

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