ISLAMABAD       -          Services trade deficit of the country during five months of current financial year decreased by 6.59% as compared the corresponding period of last year. During the period from July-November, 2019-20, services exports grew by 2.95%, whereas imports reduced by 1.36%, according the data released by Pakistan Bureau of Statistics. Services worth $2.165 billion were exported in last five months as compared to exports of $2.103 billion in same period of last year, whereas imports of services into the country were recorded at $3.784 billion as against the imports of $3.836 billion, it added.

As compared to corresponding month of last year, services trade deficit shrank by 31.84% in November, 2019 as exports grew by 5.73% and imports reduced by 12.38% during the month under review, the data revealed. In November, 2019 services worth $416.83 million were exported as against $394.26 million of same month of last year, whereas services valuing $666.77 million was also imported as against the imports of $760.97 million in same period of last year, it added. On month on month basis, services trade deficit swelled by 48.91% in November, 2019 as compared to month of October, 2019.

In November, 2019 services exports decreased by 21.40% and reached to $416.83 million as compared the exports of $530.30 million of previous month.

Meanwhile, imports of services during the month of November also reduced by 4.49% as compared the imports of October and reached to $667.77 million as against $698.14 million of previous month, it added.