Services exports from the country during first five months of the current financial year grew by 7.8 percent as compared to the exports of the corresponding period of the last year. During the period form July-November, 2024 services worth $3.275 billion were exported as compared to the exports of $3.044 billion of the same period of the last year, according to the trade data released by the Pakistan Bureau of Statistics. During the period under review services imports into the country also grew by 2.88 per cent as it was recorded at $4.425 billion as against the imports of $4.301 billion of the same period of the last year, it added. In first five months of the current financial year, the services trade deficit contracted 9.48 percent as compared to the five months of the last financial year, the data reveled. On year on year basis, the services exports from the country during the month of November 2024 grew by 6.15 percent as it was recorded at $657.69 million as compared to the exports of $634.39 million of the same month of the last year, it added. Meanwhile, the services imports into the country grew by 4.60 percent and reached to $828.56 million in November 2024 as compared to the imports of $792.15 million of the month of November 2023, it added . On year on year basis, the services trade balance narrowed by 3.10 percent as compared to the trade balance of the same period of the last year, the data reveled. On month on month basis, the services exports from the country decreased by 1.76 percent in November 2024 against the month of October 2024 as it was recorded at $675.69 million as compared to the exports of $687.79 million, it added. Meanwhile, services imports went also down by 13.07 percent during the period under review as it was recorded at $828.56 million as against the imports of $953.16 million of the previous month (October), it added. Petroleum Products: The sale of total petroleum products in Pakistan clocked in at 1.28 million tons in December, an increase of 3% on a year-on-year basis. “The growth in dispatches is attributable to a jump in HSD [high-speed diesel] sales by 12% YoY,” said Iqbal Javaid, senior research analyst at Arif Habib Limited (AHL), in a report on Thursday. This increase in HSD offtake comes on account of higher demand driven by a decline in the retail price, down 9% YoY, and curtailment of smuggled diesel from Iran, he added. The offtake of petrol (MS) decreased by 1% YoY in December 2024, settling at 0.57 million tons. On the other hand, HSD dispatches stood at 0.57 million tons in December 2024, as compared to 0.51 million tons in SPLY. Meanwhile, Furnace Oil (FO) sale volumes reduced by 48% YoY, reaching 0.04 million tons, as compared to 0.08 million tons in SPLY. The decline is due to lower demand for FO-based power generation, said Javaid. On a month-on-month (MoM) basis, POL products’ offtake dwindled by 19% during December, as compared to 1.58 million tons in November. The MoM decrease was “owing to reduced mobility due to severe winter weather, and higher HSD demand in November for Rabi season”, said Javaid. During 1HFY25, total sales of petroleum products went up by 4% YoY to 8.03 million tons vis-à-vis 7.68 million tons in SPLY. Product-wise data shows growth in MS and HSD, while sales of FO depicted a decline; the volumetric sales of MS, HSD, and FO clocked in at 3.75 million tons, 3.46 million tons, and 0.35 million tons, respectively. Company-wise, the sales of PSO declined by 4% YoY, clocking in at 0.57 million tons in December. Similarly, the offtake of Attock Petroleum Limited (APL) also plummeted by 14% YoY to 0.11 million tons. Whereas, the dispatches of SHEL and HASCOL improved by 5% and 59% YoY, respectively, clocking in at 0.09 million tons and 0.04 million tons in December.