Services trade deficit shoots up by 134% MoM in Feb

March 19, 2020 (MLN): Pakistan’s trade deficit in services stood at $400 million during February 2020, showing an increase of 134% as compared to the deficit reported in previous month.

On the other hand, the overall deficit during the first eight months of the current Fiscal year stood at $2.36 billion, signifying a fall of 10% as compared to the same period of last year.

The exports of services during the month amounted to $458 million, which brought the cumulative exports for the first eight months of current Fiscal Year to $3.701 billion. Amongst the total exports during the month, Telecommunications, Computer and Information Services made the largest contribution with an amount of $107 million, followed by Government Goods and Services at $106 million.

The imports of services during the month amounted to $858 million, which brought the cumulative imports for the eight months to $6.06 billion. Amongst the total imports, the largest expenditure was incurred on the Transport group for an amount of $274 million, followed by the Travel Group at $149 million.

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