By Staff Reporter
ISLAMABAD: Pakistan’s exports of services jumped 16.77% in the first five months of the fiscal year, propelled by a sharp rise in information technology shipments that helped the sector buck the uneven performance seen in commodity sales.
The increase, which pushed services exports to $3.833 billion from July through November, underscores the growing role of tech and telecom in bolstering the nation’s trade balance amid broader economic pressures. That’s up from $3.283 billion in the same period a year earlier, according to data from the Pakistan Bureau of Statistics.
In local currency terms, the growth was even stronger at 18.42%, with exports reaching Rs1.081 trillion compared with Rs913.145 billion the previous year. The steady climb reflects a consistent upward trajectory since the fiscal year began in July, contrasting with the mixed trends in goods exports.
Month by month, the gains gathered momentum: Services exports rose 18.27% year-over-year in July, 8.41% in August, 14.85% in September, 17.61% in October, and a robust 22.26% in November. That November figure alone hit $814.25 million, up from $666.01 million a year prior, though it edged up just 0.41% from October.
The surge was largely fueled by telecommunications, computer and information services, which climbed 18.51% to $1.799 billion in the period, per figures from the State Bank of Pakistan. That’s against $1.518 billion in the prior year.
Other business services also posted strong gains, soaring 24.01% to $816 million from $658 million. Transport services ticked up 2.76% to $372 million, while travel services advanced 9.15% to $322 million.
The services sector’s performance comes as Pakistan grapples with a widening current-account gap and seeks to diversify its export base beyond textiles and agriculture. Officials have touted IT as a key growth engine, with initiatives to boost digital infrastructure and skills training paying dividends. Still, the picture isn’t entirely rosy.
Services imports swelled 12.78% to $5.146 billion in the five months, from $4.563 billion a year ago, though they dipped 9.04% month-on-month in November. Transport accounted for the biggest chunk of imports, up 6.35% to $2.093 billion, while travel imports skyrocketed 54.27% to $1.487 billion — a sign of rebounding outbound tourism and business trips post-pandemic and economic crisis.
As a result, the trade deficit in services widened modestly by 2.55% to $1.312 billion, compared with $1.279 billion in the same stretch last year.
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