Pakistan earns $426m from travel services exports in 10 months

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Islamabad

Pakistan earned US $426.215 million by providing different travel services in various countries during the first ten months of financial year 2020-21.

This shows decrease of 3.77 percent as compared to US $442.890 million same services were provided during the corresponding period of fiscal year 2019-20, Pakistan Bureau of Statistics (PBS) said.

During the period under review, the personal travel services decreased by 3.10 percent, from US $ 438.130 million last year to US $ 424.565 million during July-April (2020-21).

Among these personal services, the exports of personal expenditure however witnessed increase of 14.63 percent while the education related expenditure decreased by 9.29 percent.

In addition, the other personal services also dipped by 2.99 percent, out of which religious and other travel services witnessed decline of 93.20 and 2.86 percent respectively.

Meanwhile, the exports of business services also decreased by 65.34 percent, from US $ 4.760 million to US $1.650 million, the PBS data revealed.

It is pertinent to mention here that the services trade deficit of the country during the first ten months of financial year (2020-21) decreased by 53.01 percent as compared to the corresponding period of last year.

During the period from July-April, 2020-21, services exports however increased by 4.18 percent, whereas imports reduced by 18.20 percent, according the data released by Pakistan Bureau of Statistics.—APP

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