Pakistan earns $ 264m from travel services’ export

ISLAMABAD: Pakistan earned $ 264.254 million by providing different travel services in various countries during the first half of current financial year 2019-20,  data of Pakistan Bureau of Statistics (PBS) revealed. 

This shows growth of 29.49 percent as compared to $ 204.070 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 29.91 percent, from $ 201.220 million last year to $ 261.404 million during July-December (2019-20). Among these personal services, the exports of education-related expenditure and personal expenditure decreased by 32.19 and 70.10 percent respectively.

In addition, the other personal services increased by 34.33, out of which religious and other travel services witnessed growth of 171.20 and 34.19 percent respectively. On the other hand, the exports of business services remained the same, as exported worth $ 2.850 million during July-December (2019-20), the PBS data revealed. It is pertinent to mention here that the services trade deficit of the country during first half of the current financial year decreased by 17.46 percent as compared the corresponding period of the last year.

During the period from July-December, 2019-20, services exports grew by 6.11 percent, whereas imports reduced by 4.67 percent, PBS data showed. The services worth  $ 2.738 billion exported during the period under review as compared the exports of $ 2.580 billion in the same period of the last year, whereas imports of services into the country was recorded at $ 4.533 billion as against the imports of  $ 4.755 billion, the data revealed.

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