ISLAMABAD, May 10: The services sector export up by 2.26 per cent in the first nine months (July-March) of the current fiscal year over the same period last year, the Federal Bureau of Statistics (FBS) said on Thursday.

The services export proceeds totalled to $2.789 billion during July-March period as against $2.727 billion over the same period last year.

On monthly basis, the export of services witnessed a negative growth of 17.28 per cent to $224.463 million in March 2007 as against $271.361 million the same month last year.

The statistics showed the export of services witnessed a negative growth because of stagnation in the base of the services sector. There was a potential for further liberalisation of the services export and seeking extensive market for the export services providers.

According to the statistics, the import of services rose by 2.02 per cent to $6.178 billion during the period under review as against $6.054 billion over the same period last year.

On monthly basis, the import of services declined by 14.27 per cent to $657.134 million in March 2007 as against $766.555 million the same month last year.

The deficit in the trade of services reached to $3.388 billion during the first nine months of this fiscal as against $3.326 billion the same period last year.