Services trade deficit shrinks by 23% in January

February 19, 2020 (MLN): Pakistan’s trade deficit in services stood at $182 million during January 2020, showing a decline of 23% as compared to the deficit reported in December 2019.

On the other hand, the overall deficit during the first seven months of the current Fiscal year stood at $1.97 billion, signifying a fall of 17% as compared to the same period of last year.

The exports of services during the month amounted to $496 million, which brought the cumulative exports for the first seven months of current Fiscal Year to $3.23 billion. Amongst the total exports during January, Telecommunications, Computer and Information Services made the largest contribution with an amount of $128 million, followed by Government Goods and Services at $87 million.

The imports of services during the month amounted to $678 million, which brought the cumulative imports for the seven months to $5.2 billion. Amongst the total imports, the largest expenditure was incurred on the Transport group for an amount of $277 million, followed by the Travel Group at $127 million.

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