ISLAMABAD: Companies exports dipped by over 14.6 per cent year-on-year to $414.97 million in April from $486.08m, information released by the Pakistan Bureau of Statistics (PBS) confirmed on Friday.
Companies exports have fallen since March after the federal government imposed a lockdown throughout the nation to include the pandemic.
Throughout July-April, providers exports fell by 7.6pc to $4.668 billion, as in opposition to $5.052bn over the corresponding months final yr, the PBS information confirmed.
Alternatively, providers imports additionally fell to $7.285bn in July-April, from $8.982bn in identical month final yr, reflecting a decline of 18.89laptop.
In April, import of providers fell by 36.98laptop to $584.9m on a yearly foundation.
Because of this, the commerce deficit in providers additionally narrowed by 33.41laptop to $2.617bn in 10MFY20 as in opposition to $3.929bn over the identical interval final yr.
The providers sector has emerged as the primary driver of financial development with its share within the GDP rising from 56laptop in 2005-06 to 61.4pc in 2019-20.
Its main sub-sectors include finance and insurance coverage, transport and storage, wholesale and retail commerce, public administration and protection.
Printed in Daybreak, June sixth, 2020
