Service sector deficit grows around 10% in Jan 2025
MG News | February 18, 2025 at 04:54 PM GMT+05:00
February 18, 2025 (MLN): The service sector of Pakistan posed a trade deficit of $315 million in January 2025, reflecting a surge of 9.7% as compared to a deficit of $287m recorded in the Same Period Last Year (SPLY), the latest data released by the State Bank of Pakistan (SBP) showed.
The trade services deficit for the previous month was $243 million, showing a 29.6% increase compared to the previous month.
Details made available by SBP further revealed that the exports of services in January went down by 12.75% to $691m compared to $792m in December 2024.
Similarly, on a yearly basis, exports rose by 1.31% compared to the figures for January 2024.
Cumulatively in 7MFY25, services exports climbed by 6.17% to $4.74bn compared to exports of $4.47bn in 7MFY24.
Amongst the total exports in the review month, Telecommunications, Computer, and Information Services made the largest contribution with an amount of $313m in January, witnessing an increase of 18.11% compared to exports in SPLY.
Meanwhile, Other Business Services held the second position, bringing $160m in January into the country.
In terms of growth, receipts from the exports of this section went up by 6.66% compared to $150m in the same period last year.
On a sequential basis, other business services were down by 56.3% compared to exports of $150m in December 2024.
Furthermore, the export of transport and travel services contributed an amount of $79m and $68m, respectively in the review period.
The imports of services during the year amounted to $1.06bn, which rose by 3.81% compared to imports worth $969m in SPLY.
On a monthly basis, imports have increased compared to $1.03bnm recorded in the previous month.
Going forward, the imports during 7MFY25, stood at $6.67bn, up by 9.09% compared with the number during 7MFY24.
Amongst the total imports, the largest expenditure was incurred on Transport for an amount of $459m, witnessing a increase of 19.53% YoY and decline of 1.92% MoM.
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 171,283.69 53.75M | 0.23% 399.10 |
| ALLSHR | 103,548.01 247.97M | 0.24% 250.78 |
| KSE30 | 50,936.32 29.88M | 0.10% 53.32 |
| KMI30 | 243,965.02 26.94M | 0.34% 825.77 |
| KMIALLSHR | 67,161.14 105.53M | 0.27% 181.91 |
| BKTi | 47,650.66 8.02M | 0.02% 8.55 |
| OGTi | 34,986.57 2.25M | -0.43% -149.93 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 81,895.00 | 82,195.00 80,410.00 | 565.00 0.69% |
| BRENT CRUDE | 101.89 | 104.90 101.21 | -1.98 -1.91% |
| RICHARDS BAY COAL MONTHLY | 130.00 | 0.00 0.00 | 6.10 4.92% |
| ROTTERDAM COAL MONTHLY | 138.50 | 0.00 0.00 | 1.45 1.06% |
| USD RBD PALM OLEIN | 1,228.00 | 1,228.00 1,228.00 | 0.00 0.00% |
| CRUDE OIL - WTI | 94.19 | 97.22 93.58 | -1.89 -1.97% |
| SUGAR #11 WORLD | 18.28 | 0.00 0.00 | 0.04 0.22% |
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 |
|---|