Service sector posts trade deficit of $228m in July

Services trade ran a $228 million shortfall in July, according to figures from the State Bank of Pakistan that Mettis Global cited. That shortfall was 2.75 times June's $83 million deficit, a rise of 175 per cent. A year earlier, the sector had posted a deficit of $304 million.

Service exports reached $927 million, up 27.34 per cent from $728 million a year earlier, though they slipped 1.59 per cent month on month. Telecom, computer and information services led the export mix at $417 million, rising 17.8 per cent annually. Other business services came second with $218 million, a 46.31 per cent annual jump.

Service imports totalled $1.155 billion, up 11.92 per cent from a year earlier and above June's $1.025 billion. Transport remained the largest import item at $438 million, though it fell 3.74 per cent annually. Travel payments reached $291 million, up 18.78 per cent yearly and 69.19 per cent from the previous month.