Export of transportation services falls 4.8pc to $758m

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ISLAMABAD: Pakistan generated a revenue of $758.02 million by providing transportation services to different countries during the first 11 months (July-May) of the fiscal year 2019-20 (FY20).

According to data issued by the Pakistan Bureau of Statistics (PBS), Pakistan’s earnings through the provision of transportation services suffered a decrease of 4.81pc during the period under review, as the country generated a revenue of $796.32 million during the corresponding period of FY19.

Of the overall decline, the export of air transportation services fell by 0.31pc, from $654.41 million to $652.38 million. Within the air services, the export of passenger services increased by 13.92pc, from $381.58 million to $434.68 million, while the export of freight services jumped by 23.35pc, from $19.19 million to $23.67 million. However, any potential surplus was overturned by a 23.5pc decrease in the export of other air transport services.

Meanwhile, the PBS’ data revealed that the export of road transportation services during the period under review experienced a decline of 60.24pc, as it reduced from $82.15 million in 11MFY19 to $32.66 million.

Among road services, the export of freight services decreased by 57.21pc (from $76.32 million to $32.66 million), whereas that of postal and courier services witnessed an increase of 330.48pc, from $2.69 million to $11.58 million.

Moreover, the export of sea transportation services witnessed an increase of 7.9pc during July-May FY20, from $57.07 million last year to $61.40 million.

Among sea transportation exports, freight services rose by 26.95pc (from $20.56 million to $26.10 million), whereas other sea transport services decreased by 3pc (from $36.51 million to $35.30 million).

It may be noted that the country’s overall services deficit decreased by 41.63pc during the first 11 months of FY20, as services’ exports decreased by 8.52pc (from $5.52 billion to $5.05 billion) while services’ imports plunged by 23.61pc (from $10.15 billion to $7.75 billion).

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