Services exports surge 29pc

In the initial two months of the fiscal year 2026-27, services exports in Pakistan experienced a notable surge of 28.89 percent compared to the same period last year, primarily propelled by an increase in earnings from the information technology sector. The Pakistan Bureau of Statistics (PBS) reported that services exports reached $1.81 billion in July and August of the current fiscal year, an increase from $1.41 billion during the preceding period.

This growth trend has persisted since the onset of FY27, unlike the fluctuating patterns observed in goods shipments. August alone saw services exports rise by 28.97 percent to $873.01 million, up from $676.91 million during the corresponding month in the previous year.

Telecommunications, computer, and information services have been the primary drivers of this expansion since the start of the fiscal year. According to data from the State Bank of Pakistan, exports of these services grew by 17.36 percent to $811 million in the first two months of FY27, compared to $691 million in the same period last year.

Other business services exports surged by 38.62 percent to $420 million, while transport services saw a 35.87 percent increase to $178 million. However, travel services exports grew exceptionally fast, rising by 146.66 percent to $222 million, up from $90 million in the same period last year.

Despite this strong performance, services imports also increased by 9.77 percent to $2.37 billion in the two-month period, from $2.16 billion in the comparable period of the previous year. In August specifically, services imports rose by 2.53 percent to $1.15 billion, from $1.13 billion a year earlier.