ISLAMABAD: Pakistan`s service exports fell 9.3 per cent to $1.582 billion in the JulySeptember quarter from $1.744bn during the same period a year ago, the Pakistan Bureau of Statistics said on Thursday.

In September alone, service exports dropped 6.75pc yearon-year.

In 2014-15, the country exported services worth $5.74bn compared with $5.344bn in the precedinghscalyear.

The service sector`s contribution in GDP has risen from 56pc in 2008-09 to 58.82pc in 201415. Its major sub-sectors are Knance and insurance, transport and storage, wholesale and retail trade, public administration and defence.Services related to government, transport, travel, communication, computer and information, construction, insurance, Snancial, cultural and recreational capture a larger share of the sector`s exports pie.

Pakistan has opened up its market to foreign service providers, particularly in the banking, insurance, telecommunications and retailsectors.

Service imports fell 28pc yearon-year to $1.737bn in JulySeptember from $2.402bn. In September, the figure dropped 37pc to $531.52 million compared to $846.45m.

In FY15, the sector`s imports grew three per cent to $8.258bn from $7.994bn in FY14.

In the July-September quarter, the trade deficit in services also contracted by 76.5pc to $154.94m from $658.26m a year ago.