Pakistan’s services exports grow 22.60 per cent in July–September
Pakistan’s services exports rose 22.60 per cent from a year earlier in July–September, led by telecommunications, computer and information services. Imports of services also increased, leaving a quarterly deficit of 832.16 million dollars, slightly smaller than a year earlier. September’s monthly deficit widened, while exports of other business services and transport also increased over the quarter.
Economics & Markets··Morning
Quarterly export earnings increase
Pakistan’s services exports increased by 22.60 per cent from a year earlier in July–September, the first quarter of its fiscal year. Figures from the official statistics agency, the Pakistan Bureau of Statistics, put the total at about 2.72 billion dollars against 2.22 billion dollars in the corresponding quarter last year. Higher earnings from telecommunications, computer and information services led the expansion. Imports of services also rose, by 16.32 per cent, to about 3.55 billion dollars from 3.05 billion dollars.[1], [2]
Technology and business services lift exports
Data from Pakistan’s central bank showed telecommunications, computer and information services exports of 1.246 billion dollars, up 17.7 per cent from 1.059 billion dollars over the quarter. Other business services earned 622 million dollars, an increase of 27.98 per cent from 486 million dollars. Transport services exports rose 9.66 per cent to 295 million dollars from 269 million dollars. Transport accounted for the largest share of services imports, followed by travel.[1]
Quarterly deficit narrows as September’s widens
The quarterly services deficit narrowed by 0.33 per cent to 832.16 million dollars from 834.88 million dollars a year earlier. In September alone, exports were 929.87 million dollars, up 15.35 per cent from 806.14 million dollars last year. Imports rose 26.38 per cent to about 1.21 billion dollars from 959.53 million dollars. The monthly deficit reached 282.76 million dollars, around 84 per cent larger than a year earlier. The official September figures were marked provisional.[1]
