Service sector trade deficit clocks in at $226m

April 17, 2025 (MLN): The service sector of Pakistan posed a trade deficit of $226 million in March, reflecting an increase of 2.31% MoM, as compared to a deficit of $260m 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 deficit of $199m in trade of services in the Same Period Last Year (SPLY).

Details made available by SBP further revealed that the exports of services in March went up by 4.93% YoY to $744m compared to $709m in February 2024.

Similarly, on a month wise basis, exports rose by 4.34% MoM compared to the figures for January 2025.

Cumulatively in 9MFY25, services exports climbed by 9.67% YoY to $6.23bn compared to exports of $5.69bn in 9MFY24.

Amongst the total exports in the review month, Telecommunications, Computer, and Information Services made the largest contribution with an amount of $342m in Mrach, witnessing an increase of 11.7% YoY compared to exports in SPLY.

Meanwhile, Other Business Services held the second position, bringing $155m in Mrach into the country.

In terms of growth, receipts from the exports of this section went up by 9.15% YoY compared to $142m in the same period last year.

On a sequential basis, other business services rise by 13.3% MoM compared to exports of $118m in February 2025.

Furthermore, the export of transport and travel services contributed an amount of $92m and $53m, respectively in the review period.

The imports of services during the year amounted to $970m, which rose by 6.82% YoY compared to imports worth $908m in SPLY.

On a monthly basis, imports have decreased compared to $973m recorded in the previous month.

Going forward, the imports during 9MFY25, stood at $8.55bn, up by 8.7% YoY compared with the number during 9MFY24.

Amongst the total imports, the largest expenditure was incurred on Transport for an amount of $386m, witnessing a decline of 6.04% YoY and 0.26% MoM.

The Travel services cost the country around $304m, recording an increase of 2.99% YoY and 1.47% MoM.

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