ISLAMABAD: The exports of services from the country witnessed an increase of 18.82 percent during the first seven months of the current financial year (2021-22) as compared to the corresponding period of last year.
According to the data released by Pakistan Bureau of Statistics (PBS), the exports of services during July-January (2021-22) were recorded at US $3,944.91 million against the exports of US $3,320.17 million during July-January (2020-21), showing growth of 18.82 percent.
The services’ imports also rose by 39.49 percent by growing from US $ 4426.30 million last year to US $ 6174.42 million during the period under review. Based on the figures, the services trade deficit was recorded at US $ 2229.51 billion this year against the deficit of US $ 1106.13 billion last year, showing an increase of 101.56 percent.
On a year-on-year basis, the services’ exports during the month of January 2022 grew by 8.56 percent to US $ 521.09 million against the exports of US $ 480.01 million during January 2021. The imports also grew by 44.40 percent from US $ 642.03 million in last January to US $ 927.06 million in January 2022, the data revealed.
On a month-on-month basis, the exports from the country declined by 23.70 percent as compared to the exports of US $ 682.91 million in December 2021. The imports also decreased by 8.30 percent as compared to the imports of US $ 1010.95 million in December 2021, the data revealed.
Meanwhile, the exports of cutlery from the country witnessed a decrease of 3.80 percent during the first seven months of financial year 2021-22 as compared to the corresponding period of last year.
The country exported cutlery worth US $67.676 million during July-January (2021-22) against the exports of US $70.352 million during July-January (2020-21), showing decline of 3.80 percent, according to the Pakistan Bureau of Statistics (PBS).
Meanwhile, on a year-on-year basis, the cutlery exports also decreased by 20.69 percent during the month of January 2022 as compared to the same month of last year. The cutlery exports in January 2022 were recorded at $8.622 million against the exports of $10.871 million in January 2021, the PBS data revealed.
On a month-on-month basis the export of cutlery witnessed a decline of 14.20 percent in January 2022 as compared to the exports of $10.049 million in December 2021.
