The trade deficit in the services sector widened by a mammoth 554.74% to $1.89 billion in the first eight months (July-February) of the ongoing fiscal year 2023-24, compared to $288.97 million in the corresponding period of last year.
As per data released by the Pakistan Bureau of Statistics (PBS), the trade deficit in services increased by 177% to $157.90 million in February, up from $57 million in the corresponding month last year.
Services sector exports reached $627.05 million in February, marking a 6.11% increase from $590.96 million in the same month last year.
During the first eight months (July-February) of FY24, service exports slightly declined by 1.37% to $5.08 billion from $5.15 billion in the same period last year.
In rupee terms, the export of services grew by 11.08% in February to Rs 175.06 billion, up from Rs 157.59 billion in the corresponding month last year.
During the first eight months of FY24, the services sector recorded a significant improvement of 22.34% to Rs 1.44 trillion against Rs 1.18 trillion in the same period of last fiscal year.
In FY23, service exports stood at $7.30 billion, up 2.78% from $7.10 billion in the preceding year.
Meanwhile, the import of services increased by 21.14% to $784.95 million in February from $647.96 million in the corresponding month of last year.
The import of services increased by 28.18% to $6.97 billion in 8MFY24 compared to $5.44 billion in the corresponding period last year.
In FY23, the import of services contracted by 38.04% to $8.01 billion against $12.94 billion in the preceding fiscal year.
HOW I FINALLY RECOVERED MY LOST BITCOIN:
Do you need help on how to recover lost or stolen Bitcoin from fake investment scammers? I lost all my Bitcoin to a fake investment scam to someone I met online. After losing my Bitcoin investments, I was determined to find a solution. I started searching for help legally to recover my funds, and I came across a lot of Testimonies about GEO COORDINATES HACKER. I am incredibly grateful for the exceptional service, and wanted to inform you all about this positive outcome. They emphasized their excellent strategy for Bitcoin recovery. In order to assist people and companies in recovering their lost or stolen cryptocurrencies. They guarantee that misplaced bitcoins have an opportunity to be recovered with their excellent services. If you or anyone you know ever finds yourselves in a similar unfortunate situation, I highly recommend reaching out to GEO COORDINATES HACKER. Contact Info Email:
( [email protected] )
Email; ( [email protected] )Telegram ( @Geocoordinateshacker )Website; https://geovcoordinateshac.wixsite.com/geo-coordinates-hack