Services sector exports go up 23.67pc

Services sector exports hit $619.97 million in the first two months of the fiscal year, overshooting its target for the period by 6.28 percent.

The amount is an increase of 23.67 percent from a year earlier, according to data from the Export Promotion Bureau, which was released yesterday.

The EPB began counting the export earnings from services sector separately from last fiscal year as contributions of some important services sectors like transportation, manufacturing, air and sea transports went unnoticed.

For example, if a manufactured product like refrigerator is exported and a mechanic is also sent with the appliance, the mechanic's earning would be calculated under the services sector.

The sales proceeds for the refrigerator would be calculated as earnings from goods export. The government has taken the decision as per the rules of the World Trade Organisation as services are also considered a product.

During the period, earnings from the export of transportation services stood at $86.72 million, sea transport $41.50 million and financial services $54.77 million.

The telecom and information services sector fetched $89.62 million, construction services $26.03, and computer services $29.12 million.