The services trade deficit narrowed by 42.16 percent during the first month of current fiscal year as exports increased by 12.26 percent with imports showing negative growth of 11.95 percent.

The overall services' exports from the country were recorded at $384.92 million during July 2013 against the exports of $342.9 million during same period of last year, showing growth of 12.26 percent, according to the data of Pakistan Bureau of Statistic (PBS).

On the other hand, the imports of services into the country during the first month of the current year decreased by 11.95 percent by going down from last years imports of $617.71 million to $543.88 million, the data revealed.

Based on this data, the overall trade deficit during the period under review was recorded at $158.96 million against the deficit of 274.82 million during last year.

However on month basis, services exports from the country decreased by 20.03 percent in July 2013 as against June 2013.

Exports of services during July 2013 stood at $384.92 million against the exports of $481.34 million during June 2013.

On the other hand, the imports of services into the country also witnessed decrease of 9.37 percent by going down from $600.12 million during July 2013 to $543.88 million in June 2013, the PBS data revealed.