ISLAMABAD, Jan 12: The services sector exports recorded a growth of 4.35 per cent during the first five months (July-November) of the current fiscal year over the same period last year.

Official figures released here on Friday by Federal Bureau of Statistics (FBS) showed that the value of exports of services reached to $1.540 billion during the period compared to $1.476 billion the same period last year.

During November 2006, the services export recorded a hefty growth of 146.15 per cent at $493.113 million as against $200.331 million in November 2005.

An official in the commerce ministry said the Pakistan services exports would record tremendous growth in the years to come following the liberalisation of the services sector by many developed and developing countries including the Middle East.

He said that presently services export was concentrated to Middle East countries and in areas of medical, tourism, architecture, labour and manpower.

On the other hand, the import of services rose by 5.29 per cent to $3.402 billion during the July-Nov period as against $3.231 billion the same period last year.