Pakistan earns $206m from travel services’ export in 5 months

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ISLAMABAD: Pakistan earned $206.040 million by providing different travel services in various countries during the first five months of the current financial year 2019-20, Pakistan Bureau of Statistics (PBS) said on Thursday.

This shows growth of 22.61 percent as compared to $168.050 million same services were provided during the corresponding period of fiscal year 2018-19. 

During the period under review, the personal travel services grew by 22.92 percent, from $165.540 million last year to $203.480 million during July-November (2019-20). Among these personal services, the exports of education-related services and health-related services decreased by 49.94 and 72.88 percent respectively. In addition, the other personal services increased by 28.05 percent, out of which religious and other travel services witnessed the growth of 158.70 and 27.90 percent respectively. 

On the other hand, the business services exports, grew by 1.99 percent during the period, as its exports increased from $2.510 million to $2.560 million, the PBS data showed.

It is pertinent to mention here that the services trade deficit of the country during five months of current financial year decreased by 6.59 percent as compared to the corresponding period of last year.

During the period from July-November, 2019-20, services exports grew by 2.95 percent, whereas imports reduced by 1.36 percent, the PBS data showed. 

Services worth $2.165 billion exported during the last five months as compared the exports of $2.103 billion in the same period of last year, whereas imports of services into the country was recorded at $3.784 billion as against the imports of $3.836 billion, the data revealed.

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