October 21, 2019 (MLN): Pakistan’s services exports dropped by 7.15% YoY during Jul- Aug 2019 to $809 million as against $871 million in the same period last year, according to latest data released by Pakistan Bureau of Statistics (PBS).

On the other hand,  imports of services during the first two months of the current fiscal year grew by 10.58% YoY to stand at $1.8 billion against $1.7 billion last year.  The trade deficit in services during the period under review reached $ 1 billion as against $802 million during Jul- Aug 2018, marking a growth of 29.8% YoY.

In the month of August only, the exports of services went down by 6.7% MoM and 11.27% YoY to $390.4 million. Whereas, imports of services grew slightly by 4.9% MoM, but significantly by 30.5% YoY to $947.6 million.

Consequently, the trade deficit in Services in the month of August 2019 recorded at $557.2 million, depicting a growth of 14.96% MoM and 95% YoY.

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