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5M services trade gap narrows 19pc

Ahmed Siddique
KARACHI: Country’s services trade deficit dropped 18.5 per cent in first five-month of fiscal year-2011 over the same period of previous year. Trade gap in services stood at $1.02 billion in July-November 2010 against $1.26 billion in the corresponding period of previous fiscal, according to State Bank of Pakistan.
The main reason of decline in services deficit was higher service export proceed received by the government.  Services export increased 20.8 per cent to $1.91 billion in July-November 2010 period against $1.58 billion in the identical period.
The imports of services hiked by 3.3 per cent to $2.93 billion in the said period against $2.83 billion in the same period of previous year.
During the period, country has generated, through services export, $725 million on account of government services, $558 million from transportation services, $130 million from travel, $103 million from communication services and $79 million from computer & information services.
On the flip side, Pakistanis paid $1.55 billion for transportation, $426 million for other business services, $412 million for travel, $67 million for communication services, $63 million for insurance services and $54 million for computer & information services


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