Services trade deficit contracts 43.45%

ISLAMABAD: Pakistan’s services trade deficit contracted 43.45 per cent during the fiscal year 2020/21, compared with the corresponding period of 2019/20, the data released by the Pakistan Bureau of Statistics (PBS) revealed.

The services trade deficit during July-June 2020/21 was recorded at $1.875 billion against the deficit of $3.315 billion in July-June 2019/20, showing a decline of 43.45 per cent, the data showed.

The services exports during the period under review witnessed an increase of 9.19 per cent and were recorded at $5.937 billion against the exports of $4.543 billion last year.

Meanwhile, on a year-on-year basis, the services exports from the country increased 53.56 per cent and were recorded at $5.79 billion in June 2021 against the exports of $3.77 billion in June 2020.

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