The overall trade deficit during the period under review also narrowed by 104.6 percent as compared to same period of last year as its exports surged by 53.4 percent with imports showing negative growth of 3.96 percent during first four months of the current fiscal year.

The services' exports from the country were recorded at $2.563 billion during July-October (2011-12) against the exports of $1.671 billion during July-October (2010-11), showing growth of 53.4 percent, according to the data of Pakistan Bureau of Statistic (PBS).

On the other hand, the imports of services into the country during first four months of current year decreased by 3.96 percent by going down from last years imports of $2.623 billion to $2.519 billion, the data revealed.

Based on this data, the services trade witnessed surplus which was recorded at $43.86 million during the period under review against the deficit of $952.46 million during last year.

The services exports, however, decreased by 7.81 percent and imports were increased by 1.65 percent during the month of October as compared to same month of last year.

The exports of services during October 2012 were recorded at $443.48 million against the exports of $481.04 million in October 2011 while imports during October 2012 stood at $699.32 million against the imports of $687.94 million during same month of last year.

As compared to the exports of $312.1 million during September 2012, the exports during October 2012 increased by 42.1 percent, while, as compared to the imports of $628.99 million in September 2012, the imports of services during October 2012 increased by 11.18 percent.