Services exports increase 6pc

Services’ exports rebounded year-on-year in February after contracting in the preceding four months, according to the data released by the Pakistan Bureau of Statistics on Tuesday.

The services exports reached $627.05 million in February, marking a 6.11 per cent increase from the $590.96m in the corresponding month last year.

In rupee terms, the export of services grew 11.08pc in February to Rs175.06bn, up from Rs157.59bn in the same month last year.

The export of services reached $5.08bn in the July-February period of FY24 against $5.15bn in the same period last year, shrinking 1.37pc. In rupee terms, they recorded a massive improvement of 22.34pc to Rs1.44 trillion against Rs1.18tr in 8MFY23.

In FY23, service exports stood at $7.30bn, up 2.78pc from $7.10bn in the preceding year.

IT exports witnessed a 13pc increase during the first seven months of the current fiscal year compared to a year ago.