Pakistan’s trade deficit in services comes down by 43% during FY20
MG News | July 21, 2020 at 01:21 PM GMT+05:00
July 21, 2020 (MLN): Pakistan’s trade deficit in services stood at $2.835 billion during the Financial Year 2020, signifying a fall of 43%, as compared to last year.
Likewise, the deficit during the quarter Apr-Jun was recorded at $419 million, which is around 42% lower than the previous quarter.
According to the latest figures published by the State Bank of Pakistan, the exports of services during FY20 amounted to $5.45 billion, which is around 9% lower as compared to the exports of previous year.
Amongst the total exports, Telecommunications, Computer and Information Services made the largest contribution with an amount of $1.44 billion i.e. higher by 21% as compared to last year, followed by Government Goods and Services at $1.09 billion, i.e. 13% lower as compared to the last year.
Other segments that contributed significantly to the exports include Transport services, which brought in nearly $821 million during the year, as well as Travel services, whose contribution amounted to $489 million. The construction segment also roped in $177 million during the period under review.
On the contrary, the imports of services during the year amounted to $8.28 billion, which is about 24% lower as compared to the figures reported in the prior year.
Amongst the total imports, the largest expenditure was incurred on Transport group for an amount of $3.1 billion, i.e. around 15% lower than the cost incurred in previous year. Moreover, the expense incurred on the travel group amounted to $1.23 billion, i.e. 28% lower than the last year.
While the export of ‘Other Business Services totaled $1.3 billion, the import of the same resulted in an expenditure of $2.5 billion.
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 180,104.61 388.90M | -0.11% -206.60 |
| ALLSHR | 108,838.05 888.10M | -0.14% -150.10 |
| KSE30 | 53,603.57 82.09M | -0.20% -109.40 |
| KMI30 | 252,988.26 112.53M | -0.14% -356.16 |
| KMIALLSHR | 69,789.36 622.55M | 0.02% 11.95 |
| BKTi | 51,939.19 21.86M | -0.35% -181.79 |
| OGTi | 35,691.88 10.10M | 0.01% 3.44 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 63,215.00 | 64,115.00 62,865.00 | -240.00 -0.38% |
| BRENT CRUDE | 87.77 | 89.07 85.85 | -1.21 -1.36% |
| RICHARDS BAY COAL MONTHLY | 110.25 | 110.50 110.25 | -0.50 -0.45% |
| ROTTERDAM COAL MONTHLY | 122.00 | 122.00 122.00 | -0.60 -0.49% |
| USD RBD PALM OLEIN | 1,175.00 | 1,175.00 1,175.00 | 0.00 0.00% |
| CRUDE OIL - WTI | 81.97 | 83.30 80.09 | -1.30 -1.56% |
| SUGAR #11 WORLD | 16.75 | 16.84 16.27 | 0.33 2.01% |
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 |
|---|
Pakistan External Debt and Liabilities