Export of services witnessed a decline of over 21 per cent in the outgoing fiscal year (2013-14) from a year ago, mainly driven by fall in export of government services.
On a monthly basis, export of services witnessed a decline of over 29pc in June 2014 over the same month last year. In absolute terms, export of services fell to $5.256 billion in July-June 2013-14 as against $6.732bn over the corresponding period of last year, showed data compiled by Pakistan Bureau of Statistics (PBS).
Annual export of services reached $6.732bn in July-June 2012-13 as compared to $5.035bn in the corresponding period of previous year.
Pakistan has opened up its market to foreign service providers, particularly in banking, insurance, telecommunications and retail.
Import of services dropped to $7.795bn in July-June 2014 from $8.205bn over the previous year, reflecting a decline of 4.99pc.
