Ser­vices trade deficit nar­rows by 7pc in 9 month

Pakistan Observer - - ECONOMY WATCH -

IS­LAM­ABAD—The coun­try’s ser­vices’ trade deficit nar­rowed by 6.9 per­cent dur­ing the first three quar­ters of the cur­rent fis­cal year as com­pared to the cor­re­spond­ing pe­riod of last year.

Ac­cord­ing to the lat­est data re­leased by Pak­istan Bureau of Sta­tis­tics (PBS), the ser­vices’ trade deficit dur­ing July March (2015 16) was recorded at $1.637 bil­lion com­pared to the deficit of $1.759 bil­lion wit­nessed dur­ing July March (2014 15). The im­ports into the coun­try, dur­ing the pe­riod un­der re­view, de­clined by 15.55 per­cent. The im­ports dur­ing the pe­riod were recorded at $5.501 bil­lion com­pared to the im­ports of 6.513 bil­lion dur­ing last year.

On the other hand the ex­ports of ser­vices were recorded at $3.863 bil­lion dur­ing the pe­riod com­pared to the ex­ports of $4.754 bil­lion, show­ing neg­a­tive growth of 18.75 per­cent. Mean­while, on year on year ba­sis, the ser­vices im­ports into the coun­try dur­ing the month of March 2016 wit­nessed de­crease of 20.32 per­cent. The im­ports dur­ing March 2016 were recorded at $593 mil­lion com­pared to the im­ports of $744 mil­lion in March 2015.

The ex­ports of ser­vices dur­ing March 2016 were recorded at $407 mil­lion com­pared to the ex­ports of $438 mil­lion dur­ing March 2015, show­ing de­cline of 7.04 per­cent.

On month on month ba­sis, the im­ports dur­ing March 2016 wit­nessed in­crease of 10.25 per­cent com­pared to the im­ports of $538 mil­lion dur­ing Fe­bru­ary 2016. The ex­ports from the coun­try dur­ing the month un­der re­view in­creased by 22.79 per­cent when com­pared to the ex­ports of 332 mil­lion dur­ing Fe­bru­ary 2016, the PBS data re­vealed.

Mean­while, dur­ing the first ten months of cur­rent fis­cal year, the mer­chan­dise im­ports into the coun­try de­clined by 3.70 per­cent dur­ing com­pared to the cor­re­spond­ing pe­riod of last year.

Im­ports into the coun­try dur­ing July-April (201516) were recorded at $36.338 bil­lion, com­pared to the im­ports of $37.734 bil­lion dur­ing July-March (2014-15), ac­cord­ing to the data of Pak­istan Bureau of Sta­tis­tics (PBS). The ex­ports from the coun­try also wit­nessed neg­a­tive growth of 12.99 per­cent by fall­ing from $19.910 bil­lion last year to $17.323 bil­lion dur­ing the cur­rent year. Based on the fig­ures, the over­all trade deficit dur­ing the pe­riod un­der re­view was recorded at $19.015 bil­lion com­pared to the deficit of $17.824 bil­lion last year, show­ing in­crease of 6.68 per­cent.—APP

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