Pakistan earns $44m from travel services’ export

1850

Staff Reporter

Islamabad

Pakistan earned $44.100 million by providing different travel services in various countries during the first two months of the financial year (2019-20).
This shows growth of 21.82 percent when compared to $36.200 million exports during the corresponding period of fiscal year (2018-19), Pakistan Bureau of Statistics (PBS) reported.
During the period under review, the personal travel services grew by 23 percent, from $35.480 million last year to $43.640 million during July-August (2019-20).
Among these personal services, the exports of health and education related services decreased by 91.86 percent and 17.54 percent respectively.
In addition, the exports of other personal services increased by 26.58 percent, out of which only religious travel services witnessed growth of 5900 percent.
On the other hand, the business services exports, however decreased by 36.11 percent during the period as its exports declined from $0.460 million to $0.720 million, the PBS data revealed.
It is pertinent to mention here that the country’s merchandise trade deficit plunged by 34.85 percent during the first three months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.
The trade deficit during July-September (2019-20) was recorded at $5.727 billion against the deficit of $8.791 billion during July-September (2018-19).
The exports increased from $5.374 billion during last year to $5.522 billion during the current fiscal year, showing growth of 2.75 percent.
On the other hand, the imports into the country witnessed declined of 20.6 percent by falling from $14.165 billion last year to $11.249 billion during the current fiscal year, the data revealed.