Service exports up 48pc in April

Published June 10, 2021
Service imports surged by 12.81pc to $582.10m in April from $516.02m in the corresponding month last year. AP/File
Service imports surged by 12.81pc to $582.10m in April from $516.02m in the corresponding month last year. AP/File

ISLAMABAD: The export of services posted growth of 48.38 per cent year-on-year to $524.99 million in April, showed data compiled by the Pakistan Bureau of Statistics.

After having contracted in the previous year, the export of services has bounced back since January this year.

However, the service exports in July-April period of 2020-21 grew by 4.18pc to $4.896bn as against $4.699bn over the corresponding period last year.

After imposition of lockdown in March 2020 to contain the spread of the pandemic, the export of services has been witnessing a declining trend since then.

On the other hand, service imports surged by 12.81pc to $582.10m in April from $516.02m in the corresponding month last year.

The import bill of services declined by 18.20pc to $6.316bn in 10MFY21 against $7.722bn in the corresponding period last year.

The deficit in services also dipped by 53.01pc to $1.420m in 10MFY21 as against $3.022bn over the last year. In April, the deficit dipped 64.79pc to $57.11m from $162.20m over the last year.

Published in Dawn, June 10th, 2021

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