Pakistan's services’ exports rise by 6.03% to $5.45 bln

ISLAMABAD: The export of various services witnessed 6.03 percent increase during the first eight months of the current fiscal year as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.

According to PBS data, Pakistan earned $5.459 billion from the export of various services during July-February (2024-25) as compared to $5.148 billion in July-February (2023-24)

On the other hand, the services’ imports also witnessed an increase of 12.03 percent during the months under review and were recorded at $7.709 billion as compared to the import of $6.881 billion in July-February (2023-24).

Based on the figures, the services’ trade deficit increased by 29.85 percent during the period under review by growing from $1.732 billion last year to $2.250 billion during the ongoing fiscal year.

Meanwhile, on year-on-year basis, the exports of services in February 2025 increased by 5 percent to $709.96 million from $676.17 million in February 2024.

On the other hand, the imports also grew by 32.70 percent by going up from $763.42 million to $1,013.02 million, according to PBS data.

On month-on-month basis, the export of services increased by 2.50 percent in February 2025 when compared to the imports of $692.62 million in February 2024.

The imports of services however witnessed a decrease of 1.08 percent in February 2025 compared to imports of $1,024 million in February 2024, PBS reported.

Meanwhile, the merchandize exports from the country increased by 7.69 percent during the first three quarters of the current fiscal year as compared to the corresponding months of last year.

Exports during July-March (2024-25) were recorded at $24.690 billion against $22.926 billion during July-March (2023-24), according to Pakistan Bureau of Statistics (PBS) data.

On the other hand, imports into the country went up by 6.33 percent by growing from $40.054 billion last year to $42.589 billion during the first nine months of the current year.

Based on the figures, the trade deficit during the period under review was recorded at $17.899 billion against the deficit of $17.128 billion last year, showing an increase of 4.50 percent.