• Download the Constitution of Pakistan
  • Advertise
Friday, June 13, 2025
  • Login
NEWSLETTER
ECONOMY
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
ECONOMY
No Result
View All Result
Home Economy

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

by News Publishing
May 9, 2022
in Economy
Reading Time: 2 mins read
0
Services’ exports surge 18pc to $4.5bn in 8 months
Share on FacebookShare on TwitterLinkedinWhatsapp

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.

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
News Publishing

News Publishing

Related Posts

Sindh Unveils Budget 2025-26 with Pay and Pension Increases

Sindh Unveils Budget 2025-26 with Pay and Pension Increases

by Haris Ali
June 13, 2025
0

On June 13, 2025, the Sindh government unveiled the Budget 2025-26, announcing a series of financial relief initiatives for its...

Passenger Car Sales Surge Over 32% in Eleven Months

Passenger Car Sales Surge Over 32% in Eleven Months

by Haris Ali
June 13, 2025
0

In Pakistan, passenger car sales have increased by more than 32 percent, reaching 94,388 units in the first eleven months...

Pakistan, UAE Leaders Vow Stronger Cooperation in Pursuit of Peace and Stability

Pakistan, UAE Leaders Vow Stronger Cooperation in Pursuit of Peace and Stability

by Haris Ali
June 13, 2025
0

Pakistan and the United Arab Emirates (UAE) reaffirmed their commitment to close coordination and cooperation in pursuit of regional peace...

Govt to unveil Rs17.6tr FY26 budget in National Assembly today

Govt to unveil Rs17.6tr FY26 budget in National Assembly today

by News Publishing
June 10, 2025
0

Federal Minister for Finance Muhammad Aurangzeb is scheduled to present the federal budget for the fiscal year 2025–26 in the...

Pakistan likely to unveil Rs17.68 trillion budget 2025-26 on June 10

Pakistan likely to unveil Rs17.68 trillion budget 2025-26 on June 10

by News Publishing
June 4, 2025
0

The Government of Pakistan is expected to present the federal budget for the fiscal year 2025-26 on June 10, with...

Aurangzeb to chair Pakistan Crypto Council meeting today

Aurangzeb to chair Pakistan Crypto Council meeting today

by News Publishing
June 2, 2025
0

A meeting of Pakistan Crypto Council will be held in Islamabad today (Monday) with Finance Minister Muhammad Aurangzeb in the...

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

About Us

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Important Categories

  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • YouTube
  • Linkedin
  • TikTok
  • WhatsApp
  • About
  • Advertise
  • Careers
  • Contact

© 2024 Economy.pk - Web Development by Digital Otters

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
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

© 2024 Economy.pk - Web Development by Digital Otters