Exports of services grew 4.6pc in July-September

Service exports grew 4.63 per cent in the first quarter of the current fiscal year, mainly driven by information technology. In absolute terms, exports rose to $1.69 billion in July-September from $1.61bn a year ago, according to the latest data compiled by the Pakistan Bureau of Statistics. In September, the export of services dipped by 1.73pc to $565.96m from $575.94m in the same month last year. In the previous fiscal year, the export of services grew 17.2pc to $6.968bn from $5.945bn the preceding year. The PML-N-led coalition government has projected services’ export target at $10bn for FY23. The highest-ever growth in IT-related services pushed up the overall export figure. Other services include finance and insurance, transport and storage, wholesale and retail trade, public administration and defence sectors.