Service sector posts trade deficit of $286m in August

Mettis Global reported that Pakistan's services sector posted a deficit of $286 million in August, widening 3.62% month on month from $276 million in July, according to State Bank of Pakistan (SBP) figures. Against the same period last year, when the deficit stood at $449 million, the gap narrowed 36.30%.

Services exports climbed 28.80% year on year to $872 million, though they slipped 7.14% from July. Telecommunications, Computer, and Information Services led the export mix at $394 million, up 16.91% annually, while other business services brought in $209 million, a 35.71% rise from $154 million a year earlier. Imports of services totalled $1.158 billion, up 2.84% year on year and down from $1.215 billion in July, with transport the biggest cost at $473 million and travel costs at $318 million.