Travel services export totals $43m in July

ISLAMABAD: Pakistan earned USD43.985m by providing different travel services in various countries during the first month of the current financial year 2021-22.

This shows a growth of 75.59 per cent as compared to $25.050 million same services were provided during the corresponding period of the last fiscal year 2020-21, the Pakistan Bureau of Statistics (PBS) reported.

During the month under review, the personal travel services increased by 76.50 per cent, from $24.780m last year to $43.895m during July 2021.

Among these personal services, the exports of personal expenditure also rose by 328.57pc while the education-related expenditure increased by 255pc.

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In addition, the other personal services witnessed an increase of 74.33pc.

Meanwhile, the exports of business services decreased by 50pc, from $0.180m to $0.090m, the PBS data revealed.

The country’s services trade deficit witnessed a decline of 26.35pc during the first month of the current financial year (2021-22) as compared to the corresponding period of last year.

The exports during July 2021 were recorded at $483m against the exports of $454m, showing growth of 6.39pc, PBS data revealed.

The imports of the country however witnessed a decline of 7.02pc from $769m in July 2021 to $715m.

Based on the figures, the services trade deficit in July 2021 was recorded at $232m against the deficit of $315m in July 2020, showing a decline of 26.35pc.

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