Pakistan records a trade deficit in services of $317m in January
MG News | February 19, 2024 at 03:33 PM GMT+05:00
February 19, 2024 (MLN): The service sector of Pakistan posed a trade deficit of $317 million in January, reflecting an increase of 2.48x MoM, as compared to a deficit of $128m recorded in the previous month, the latest data released by the State Bank of Pakistan (SBP) showed.
Comparison on a yearly basis shows that the country reported a surplus of $38m in trade of services in the Same Period Last Year (SPLY).

Details made available by SBP further revealed that the exports of services in January went down by 1.45% YoY to $678m compared to $688m in January 2023.
Similarly, on a month-wise basis, exports dropped by 7.25% MoM compared to the figures for December 2023.
Cumulatively in 7MFY24, services exports dropped by 2.41% YoY to $4.56bn compared to exports of $4.45m in 7MFY23.
Amongst the total exports in the review month, Telecommunications, Computer, and Information Services made the largest contribution with an amount of $265m in January, witnessing an increase of 39.47% YoY compared to exports in SPLY.
Meanwhile, Other Business Services held the second position, bringing $150m in January into the country.
In terms of growth, receipts from the exports of this section went up by 10.29% YoY compared to $136m in the same period last year.
On a sequential basis, other business services remain unchanged compared to exports of $150m in December 2023.
Furthermore, the export of transport and travel services contributed an amount of $65m and $73m, respectively in the review period.
The imports of services during the year amounted to $995m, which rose by 53.08% YoY compared to imports worth $650m in SPLY.
On a monthly basis, imports have increased compared to $859m recorded in the previous month.
Going forward, the imports during 7MFY24, stood at $4.79bn, up by 28.77% YoY compared with the number during 7MFY23.
Amongst the total imports, the largest expenditure was incurred on Transport for an amount of $435m during January, witnessing a growth of 35.09% YoY and 8.48% MoM.
The Travel services cost the country around $255m, recording an increase of 73.47% YoY, while going up by 82.14% MoM.
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 156,732.87 378.02M | -1.09% -1732.19 |
| ALLSHR | 95,664.67 846.83M | -0.93% -894.49 |
| KSE30 | 47,752.38 218.48M | -1.21% -582.54 |
| KMI30 | 226,175.25 118.06M | -1.26% -2880.10 |
| KMIALLSHR | 62,683.08 372.39M | -0.88% -556.28 |
| BKTi | 43,892.75 101.34M | -1.66% -739.52 |
| OGTi | 30,880.42 8.70M | -1.33% -415.34 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 107,495.00 | 111,785.00 106,210.00 | -3135.00 -2.83% |
| BRENT CRUDE | 64.71 | 65.15 64.06 | -0.21 -0.32% |
| RICHARDS BAY COAL MONTHLY | 80.50 | 0.00 0.00 | -1.50 -1.83% |
| ROTTERDAM COAL MONTHLY | 93.00 | 93.00 93.00 | 0.10 0.11% |
| USD RBD PALM OLEIN | 1,082.50 | 1,082.50 1,082.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 60.29 | 60.79 59.64 | -0.19 -0.31% |
| SUGAR #11 WORLD | 14.25 | 14.42 14.07 | -0.17 -1.18% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|
Total Advances, Deposits & Investments of Scheduled Banks