Trade deficit for Services falls by 13.5 percent in July

September 12, 2018: The trade deficit with respect to services imported and exported reduced by 13.58 per cent during first month (July) of the current fiscal year to $497.6 million as compared to the deficit of $575.8 million during June this year.

According to details, export of services declined to $405.17 million in July 2018 against exports worth $422.8 million during the previous month, thus showing a decrease of 4.18 percent in a single month.

The import of services during the month of July also declined by 9.6 percent as it went down to $902.78 million from $998 million in June 2018, according to the latest data released by Pakistan Bureau of Statistics (PBS).

On a yearly basis, the services trade deficit has however expanded by 3.79 percent to $497.6 million in July 2018 against the deficit of $479 recorded during the same month of the previous year.

In July 2017, the export of services was recorded at $410 million while import was recorded at $890.3 million, with services exports falling by 1.4 percent and services imports rising by 3.79 percent over the year.

(APP)