• About
  • Advertise
  • Contact
Tuesday, May 24, 2022
  • Login
WRITE FOR US
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
No Result
View All Result
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
Economy.pk

Services’ exports surge 17pc to $4.5bn in 8 months

bySuneela Zulfiqar
May 9, 2022
in Economy
Reading Time: 2 mins read
0
Services’ exports surge 18pc to $4.5bn in 8 months
330
SHARES
7.2k
VIEWS
Share on FacebookShare on Twitter

ISLAMABAD: According to the Pakistan Bureau of Statistics, service exports increased 17.07 percent in the first nine months of the current fiscal year compared to the same period last year.

In absolute terms, the value of service exports increased to $5.15 billion between July and March 2021-22, up from $4.40 billion in the same period last year.

RelatedPosts

IT exports to touch $5bn mark in next fiscal year, says Aminul Haq

Pakistan proposes including Turkey in multibillion dollar CPEC project

Pakistan launches ‘national pavilion’ on China’s JD.com

In March, service exports increased by 20.19 percent year on year to $668.29 million, up from $556.03 million the previous month. However, month over month, service exports climbed by 24.93 percent.

In FY21, exports of services climbed 9.19 percent to $5.937 billion, up from $5.437 billion the previous year.

The entire export result was boosted by the highest-ever rise in IT-related services. Finance and insurance, transportation and storage, wholesale and retail trade, public administration, and defense are all examples of services exports.

The commerce ministry has set a target of $7.5 billion in services exports for 2021-22.

The services sector has risen to become the primary driver of economic development, generating 61 percent of GDP in 2020-21, up from 56 percent in 2005-06.

Simultaneously, service imports increased by 31.33 percent to $8.33 billion in 2021-22, compared to $6.34 billion the previous year.

In March, service imports increased by 25.29 percent to $932.15 million, up from $744 million the previous month. It grew at a negative rate of 12.87 percent month over month.

Services imports declined 10.75 percent to $7.812 billion in FY21, down from $8.753 billion the year before.

In 9MFY22, the trade deficit in services climbed by 63.64 percent to $3.17 billion, up from $1.94 billion in 9MFY21.

 The trade deficit increased by 40.37 percent in March, to $263.86 million, from $187.97 million the previous month.

Tags: Commerce MinistrylatestPakistan Bureau of StatisticsService exports
Suneela Zulfiqar

Suneela Zulfiqar

Related Posts

IT exports to touch $5bn mark in next fiscal year, says Aminul Haq

IT exports to touch $5bn mark in next fiscal year, says Aminul Haq

Federal Minister for Information Technology and Telecom­muni­cation Aminul Haq has said that Pakistan’s IT exports would touch $3 billion mark...

Pakistan proposes including Turkey in multibillion dollar CPEC project

Pakistan proposes including Turkey in multibillion dollar CPEC project

Pakistani Prime Minister Shehbaz Sharif proposed Friday to expand and include Turkiye in the multibillion-dollar China Pakistan Economic Corridor (CPEC)....

Next Post
Pakistan’s ace equestrian Usman Khan qualifies for Asian Games 2022-23

Pakistan’s ace equestrian Usman Khan qualifies for Asian Games 2022-23

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

PIA To Operate Hajj Flights From Eight Cities From May 31

PIA To Operate Hajj Flights From Eight Cities From May 31

Umar ata bandial

CJP Umar Ata Bandial named among Time’s 100 most influential people of 2022

Sarah Saeed promoted to BPS-22

Sarah Saeed promoted to BPS-22

PM restores Pakistan Kidney and Liver Institute Board

PM restores Pakistan Kidney and Liver Institute Board

Pakistan to lock horns with India on the first day of Hockey Asia Cup 2022

Pakistan to lock horns with India on the first day of Hockey Asia Cup 2022

Sculpture show to feature works of 30 acclaimed artists from 28th May

Sculpture show to feature works of 30 acclaimed artists from 28th May

Connect with us

Twitter

Economy.pk

Economy.pk touches diverse topics with a lighter note and is geared toward audiences with various interests and all ages. Come and explore Economy.pk. Ample details and analysis are provided in extraordinarily readable manner making them compelling and interesting at the same time.

Category

  • World
  • Politics
  • Business
  • Technology
  • Education
  • Health
  • Life & Style
  • Opinions

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin

Sitelinks

  • Sitemap

Download our APP

download on android app download on apple app
  • About
  • Advertise
  • Contact

© 2020 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

  • LATEST
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Canada
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2020 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

No Result
View All Result

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?