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Pakistan’s services export up 15pc

ISLAMABAD (Web Desk) Pak­istan’s exports of services recorded a growth of 15.32 per cent year-on-year to $403.71 million in the first month of the current fiscal year, the Pakistan Bureaus of Statistics said on Friday.The export of services entered positive growth in the past couple of months after recording negative growth in the previous months.

Pakistan’s exports of services recorded a growth of 1.76pc year-on-year to $5.55bn in the fiscal year 2016-17.The services sector has emerged as the main driver of economic growth. Its share increased from 56pc of the gross domestic product (GDP) in 2005-06 to 57.7pc in 2014-15.Major sub-sectors include finance and insurance,

Transport and storage, wholesale and retail trade, public administration and defence.The import of services was up 28.6pc to $893.13m in July 2017 as against 694.49m over the corresponding period last year.The import of services increased 2.96pc to $9.12bn in July-June 2016-17.

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