Services export jumps 13pc in November

Published January 10, 2021
The export of services rebounded in November 2020 as it posted a growth of 12.9 per cent year-on-year to $506.9 million. - File photo
The export of services rebounded in November 2020 as it posted a growth of 12.9 per cent year-on-year to $506.9 million. - File photo

ISLAMABAD: The export of services rebounded in November 2020 as it posted a growth of 12.9 per cent year-on-year to $506.9 million, showed data compiled by the Pakistan Bureau of Statistics.

The exports posted a positive growth after contracting over 25pc in October 2020. The exports grew 12pc in September. However, the first two-month — July and August also posted a negative growth.

The service exports between July-November period fell by 5.53pc to $2.158bn as against $2.284bn over the corresponding months last year.

Export of services dipped by over 8.66pc year-on-year to $5.449bn in 2019-20 from $5.966bn in the preceding year. After imposition of lockdown in March to contain the pandemic, the export of services have been witnessing a declining trend since then.

On the other hand, services imports dipped by 9.81pc to $606.09m in November from $672m in the corresponding month of last year. The import bill of services declined by 18.37pc to $3.083bn in July-November period against $3.777bn in the corresponding months last year.

The deficit in services also dipped by 38.02pc to $925.2m in July-November period this fiscal year as against $1.492bn over the last year.

Published in Dawn, January 10th, 2021

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...
New terror wave
Updated 27 Mar, 2024

New terror wave

The time has come for decisive government action against militancy.
Development costs
27 Mar, 2024

Development costs

A HEFTY escalation of 30pc in the cost of ongoing federal development schemes is one of the many decisions where the...
Aitchison controversy
Updated 27 Mar, 2024

Aitchison controversy

It is hoped that higher authorities realise that politics and nepotism have no place in schools.