Services trade deficit narrows 25% in January

February 17, 2026 (MLN): Pakistan’s services sector recorded a trade deficit of $302 million in January, reflecting a decline of 24.69% month-on-month (MoM) compared with a deficit of $401 million in the previous month, according to the latest data released by the State Bank of Pakistan (SBP).

On a yearly basis, the deficit stood at $291 million in the trade of services during the same period last year (SPLY).

SBP data further showed that services exports rose by 31.6% year-on-year (YoY) to $887 million in January, up from $674 million in January 2025.

On a monthly basis, however, exports declined by 6.24% MoM compared with December 2026.

Cumulatively, during 7MFY26, services exports increased by 18.82% YoY to $5.662 billion, compared with $4.765 billion in 7MFY25.

Within total exports during the review month, Telecommunications, Computer, and Information Services made the largest contribution at $374 million, up 19.49% YoY compared with SPLY.

Other Business Services ranked second, bringing in $192 million in January.

Receipts from this category increased by 31.51% YoY compared with $146 million in the same period last year, although they declined by 3.03% MoM from $198 million recorded in December 2026.

Meanwhile, exports of Transport and Travel services amounted to $89 million and $111 million, respectively, during the review month.

On the import side, services imports totaled $1.189 billion in January, rising 23.21% YoY from $965 million in SPLY.

On a monthly basis, imports declined from $1.347 billion recorded in the previous month.

Cumulatively, services imports during 7MFY26 stood at $7.733 billion, up 17.42% YoY compared with 7MFY25.

Among total imports, Transport services accounted for the largest expenditure at $482 million, up 12.66% YoY but down 1.11% MoM.

Travel services cost the country approximately $390 million, recording increases of 60.87% YoY and 2.78% MoM.

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