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.
Copyright Mettis Link News
Posted on: 2025-04-17T15:45:14+05:00
