Services exports up 17.32pc in April

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ISLAMABAD, Jun 12 (APP):The exports of services surged by 17.32 percent on year-on-year (YOY) basis during the month of April 2018 compared to the corresponding month of last year.
The services exports during April 2018 were recorded at $451.17 million against t he exports of $384.57 million in April 2017, according to the latest data of Pakistan Bureau of Statistics (PBS).
The imports of services during the month under review witnessed negative growth of 2.08 percent by declining from the imports of $832.59 million last April to $815.30 million during April 2018.
Based on the figures, the trade deficit during April 2018 decreased by 18.72 percent as it went down from the deficit of $448.02 million to $364.13 million.
On month-on-month (MOM) basis, the exports of services from the country increased by 4.96 percent in April 2018 when compared to the exports of $756.30 million in March 2018.
The imports into the country increased by 7.8 percent in April 2018 when compared to the imports of $756.3 billion in March 2018.
Meanwhile, the exports during the first ten months of the current fiscal year witnessed negative growth of 8.17 percent compared to the corresponding period of last year.
Meanwhile, the overall services exports from the country during July-April (2017-18) were recorded at $4314.64 million compared to the exports of $4698.63 million in July-April (2016-17), the PBS data revealed.
The imports into the country witnessed increase of 6.29 percent during the period under review by going up from $8025.71 million last year to $8530.44 million during the ongoing fiscal year.
Based on the figures, the services trade deficit during the first ten months of the current year widened by 26.71 percent as the deficit was increased from $3327.08 million last year to $4215.80 million during the current year.