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Services trade deficit up by 56.5% in 11 months


ISLAMABAD: Services trade deficit during first 11 months of fiscal year 2013-14 has increased by 56.48 per cent with  20.83 per cent decrease in their exports and negative growth of 7.33  per cent in imports against last year. However, on year-on-year basis, the services trade deficit  decreased by 127.93 per cent in May 2014 when compared to that in the same month of last year, according to the latest data of Pakistan Bureau  of Statistics (PBS). According to break up figures, the exports of services from the country during July-May (2013-14) were recorded at $4,947 billion against  $6.249 billion during July-May 2012-13. On the other hand, the imports into the country during the period under review were recorded at $7.016 billion against $7.571 billion during the corresponding period of last year. Based on the figures, the trade deficit during July-May (2013-14) was recorded at $2.069 billion against $1.322 billion in  July-May (2012-13). Meanwhile, on year-on-year basis, the services exports from the country in May 2014 increased by 98.81 per cent to $772.42 million  when compared to the exports of $388.52 million in May 2013. On the other hand, the imports of services into the country decreased by 15 per cent from $780.06 million in May 2013 to $663.05 million in May 2014, the PBS data revealed. The deficit in May 2014 stood at $109.37 million against the deficit of $391.54 million in May 2013.

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