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Reading: Services export increases by 26pc in July-Oct
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PhotoNews Pakistan > Business > Services export increases by 26pc in July-Oct
Business

Services export increases by 26pc in July-Oct

Web Desk
By Web Desk Published December 12, 2014 1 Min Read
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Export of services grew by 25.84 per cent year-on-year in the first four months (July-October) of this fiscal year to $2.091 billion from $1.661bn, Pakistan Bureau of Statistics said on Thursday.

In October, however, the figure plunged to almost a half at $373.35 million compared to $669.63m a year earlier, recording a 44.25pc fall which was in a stark contrast with a robust growth of 94pc in September 2014.

In 2013-14, the export of services totalled $5.256bn, a decline of around 21pc compared with $6.732bn in 2012-13.

The sector has emerged as the main driver of economic growth. Its share has increased from 56pc of GDP in 2005-06 to 57.7pc in 2013-14.

Major sub-sectors include finance and insurance, transport and storage, wholesale and retail trade, public administration and defence.

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