Pakistan’s service sector recorded a trade deficit of $304 million in February, marking a monthly decline of 8.43 per cent compared to January’s $332 million deficit, according to data released by the State Bank of Pakistan (SBP).
On a year-on-year basis, the country reported a deficit of $88 million in service trade for the same period last year.
The SBP data showed that service exports in February increased by 4.73 per cent year-on-year, reaching $709 million, up from $677 million in February 2024. On a month-to-month basis, exports saw a 2.46 per cent rise compared to January 2025.
In the first eight months of fiscal year 2025 (8MFY25), cumulative service exports grew by 6 per cent year-on-year, totalling $5.459 billion, up from $5.15 billion during the same period last year.
Telecommunications, computer, and information services played a significant role in service exports, contributing $305 million in February, an 18.68 per cent increase from the same period last year.
Other business services ranked second, bringing in $118 million for the month, though this represented a 2.48 per cent decline year-on-year from $121 million last year. On a month-to-month basis, this sector dropped by 20.27 per cent, down from $148 million in January 2025.
Transport and travel services also contributed $91 million and $69 million, respectively, during the period under review.
Service imports amounted to $1.013 billion in February, a 32.42 per cent increase year-on-year compared to $765 million in the same period last year. However, imports showed a slight decrease from $1.024 billion in January 2025.
For the 8MFY25 period, service imports reached $7.709 billion, an 11.95 per cent rise from the same period in FY24.
Transport services made up the largest portion of imports, totalling $425 million, though this represented a 20.18 per cent year-on-year decline and a 6.19 per cent month-on-month drop. Travel services cost the country $304 million, up 2.99 per cent year-on-year and 1.47 per cent month-on-month.
