Insurance, pension services’ exports grow by 27.79 percent

News Image

MG News | March 04, 2019 at 04:18 PM GMT+05:00

March 4, 2019: The insurance and pensions services by Pakistan in other countries increased by 27.79 percent during the first half of current fiscal year (2018-19) compared to the corresponding period of last year, an official data by Pakistan Bureau of Statistics revealed.

Pakistan earned $21.684 million by exporting services of insurance and pensions during July-December (2018-19) compared to the $16.968 exports of the same services during July-December (2017-18), showing growth of 27.79 percent.

The bread up figures show that the direct insurance including life insurance, freight insurance and other direct insurances, grew by 35.22 percent, from $9.240 million last year to $12.494 million during the current fiscal year.

The life insurance grew from $0.352 million to $354 million, a growth of 0.57 percent whereas freight insurance declined from minimal exports of $0.010 million to zero exports whereas the exports of all other direct insurance increased from $8.878 million last year to $12.140 million, a growth of 36.74 percent.

Meanwhile, the reinsurance services’ exports increased by 10.91 percent, from $6.305 million last year to $6.993 million during the current year.

The auxiliary insurance services’ exports also increased from $1.423 million last year to $2.197 million, showing upward trends of 54.39 percent.

Meanwhile, on year-on-year basis, the overall exports of insurance and pension services witnessed an increase of $32.82 million during the month of December 2018, as compared to December 2017. The exports of these services stood at $3.990 million during December 2018 against the exports of $3.004 million.

On month-on-month basis, the exports of insurance and pension services during December 2018 increased by 25.47 percent when compared to the exports of $3.180 million during November 2018.

It is pertinent to mention that the overall services trade deficit during the first half of the current fiscal year (July-December) shrank by 29.11 percent compared to the corresponding period of last year.

The services trade deficit during July-December (2018-19) was recorded at $1.945 billion against the deficit of $2.744 billion during July-December (2017-18), showing decline of 29.11 percent, official data revealed.

 (APP)

Related News

Name Price/Vol %Chg/NChg
KSE100 171,725.29
261.56M
2.31%
3881.05
ALLSHR 103,214.49
498.64M
2.00%
2024.02
KSE30 51,517.14
135.33M
2.40%
1209.13
KMI30 246,565.71
111.44M
2.29%
5524.54
KMIALLSHR 67,042.77
274.55M
1.94%
1273.86
BKTi 47,299.71
43.26M
3.04%
1394.54
OGTi 36,341.37
10.64M
2.20%
783.44
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 77,260.00 77,720.00
76,105.00
1485.00
1.96%
BRENT CRUDE 97.79 100.73
96.90
-5.75
-5.55%
RICHARDS BAY COAL MONTHLY 110.00 0.00
0.00
-8.75
-7.37%
ROTTERDAM COAL MONTHLY 113.00 0.00
0.00
0.30
0.27%
USD RBD PALM OLEIN 1,157.50 1,157.50
1,157.50
0.00
0.00%
CRUDE OIL - WTI 91.30 93.90
90.32
-5.30
-5.49%
SUGAR #11 WORLD 14.68 14.91
14.59
-0.22
-1.48%

Chart of the Day


Latest News
May 25, 2026 at 06:03 PM GMT+05:00

UAE, UN deepen ties on energy, water agenda


May 25, 2026 at 05:13 PM GMT+05:00

Pakistan pushes export drive in China


May 25, 2026 at 04:25 PM GMT+05:00

PKR maintains upward momentum vs USD


May 25, 2026 at 04:18 PM GMT+05:00

FPRM acquires 60% stake in AML/CFT Screening Solution



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg