ISLAMABAD: Export of services grew by 18.82 per cent in the first seven months of the current fiscal year, the Pakistan Bureau of Statistics announced on Thursday.

In absolute terms, the exports rose to $3.94bn in July-January from $3.32bn over the corresponding months of last year.

The export of services in January also rose by 8.56pc to $521.09m against $480.01m in the corresponding month last year. On a month-on-month basis, the export declined 23.70pc.

The export of services increased 9.19pc year-on-year to $5.937bn in FY21 compared to $5.437bn in the preceding year.

The growth is mainly led by the highest-ever export of IT services.

On the other hand, services imports also surged by 39.49pc to $6.17bn in July-January against $4.42bn in the corresponding months of last year.

The imports of services grew 44.40pc to $927.06m in January against $642.03m in the same month last year. How­ever, on a month-on-month basis, the import of services contracted by 8.30pc. In the FY21, the imports of services reached $7.812bn falling by 10.75pc from $8.753bn in the preceding year.

Published in Dawn, March 4th, 2022