ISLAMABAD:The Government has taken various initiatives at federal and provincial levels to raise standards of service sector, as it still constitutes the largest share of 58 percent in GDP even in the new methodology used for the Change of Base of National Accounts on 2015-16.
According to the Economic Survey 2021-22 issued by Minister for Finance Miftah Ismail along with Minister for Planning and Development, Ahsan Iqbal and Minister for Power, Engr Khurram Dastgir here at a press conference on Thursday, in the new methodology, the services sector has been divided into Ten sub-sectors.
During the period, the services sector posted a growth of 6.2 per cent on account of 10 per cent growth in Wholesale and Retail Trade industry, 5.4 per cent growth in Transportation & Storage, 4.1 per cent growth in Accommodation and food services activities, 4.9 per cent growth in Finance and insurance, 3.7 per cent growth in Real estate activities, 8.7 per cent growth in Education, 2.2 per cent growth in Human health and social work activities, and 3.8 per cent growth in Other private services.
However, Public administration and social security (general government) activities posted negative growth of 1.2 per cent mainly due to high deflator.