Exports of services rise by 22.94% in 5 months

ISLAMABAD: The exports of services from the country witnessed an increase of 22.94 percent during the first five months of the current financial year (2021-22) as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.

The exports of services during July-November (2021-22) were recorded at $2720.94 million against the exports of $2213.16 million in July-November (2020-21), showing growth of 22.94 percent.

The services’ imports also rose by 34.27 percent by growing from $3012.18 million last year to $4044.42 million during the period under review.

On a year-on-year basis, the services’ exports during the month of November 2021 grew by 15.41 percent to $582.93 million against the exports of $505.12 million during November 2020.

The imports also grew by 50.19 percent from $554.03 million in last November to $832.09 million in November 2021, the data revealed.

On a month-on-month basis, the exports from the country increased by 6.40 percent when compared to the exports of $547.88 million in October 2021. On the other hand, the imports decreased by 3.48 percent when compared to the imports of $862.09 million in October 2021, the data revealed

Exports of services rise by 22.94% in 5 months

Meanwhile, the merchandise exports from the country during the first half of the current financial year expanded by 24.71% as compared to the exports of the corresponding period of last year.

During the period from July-December (2020-21), merchandise exports from the country were recorded at $15.102 billion as compared the exports of $12.110 billion of the same period of last year (July-December 2020).

On the other hand, the imports into the country also registered about 65.94% growth and went up from $24.454 billion of July-December, 2020 to $40.580 billion during July-December 2021.

Meanwhile, exports from the country on year on year basis registered about 15.81% growth in December 2021 as compared the exports of the corresponding month of last year. The exports reached to $2.740 billion in December 2021 as compared to the exports of $2.336 billion of the corresponding month of last year.

On a month-on-month basis, exports from the country decreased by 5.55% in the month of December 2021 as the country fetched $2.740 billion by exporting different goods and commodities against the exports of $2.901 billion during November  2021.

The imports into the country were registered at $7.579 billion during December 2021 as compared to $7.899 billion during November 2021, the data revealed.

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