Pakistan earns US $68 million by exporting transport services

ISLAMABAD: Pakistan earned US $68.010 million by providing different transport services in various countries during the three months of financial year (2020-21) as compared to the corresponding period last year.

This shows decrease of 49.28 percent as compared to US $134.090 million earned through provision of services during the corresponding period of fiscal year (2019-20), Pakistan Bureau of Statistics (PBS) reported.

During the period under review, the exports of sea transport services however witnessed increased of 406.55 percent, by going up from US $4.120 million last year to US $20.870 million during the period under review.

Among the sea transport services, the exports of freight services witnessed increase of 274.22 percent from US $2.560 million last year to US $9.580 million whereas the exports of other sea transport services also rose by 623.72 percent from US $1.560 million to US $ 11.290 million current year, the PBS data revealed.

The exports of air transport witnessed decrease of 64.81 percent by going down from US $122.150 million last year to US $42.990 million during July-August (2020-21).

Among the air transport services, the exports of passengers services decreased by 65.13 percent, from US $76.160 million to US $26.560 million, whereas the exports of freight services also dipped by 2.89 percent, from US $ 3.460 million to US $3.360 million, in addition the export of other air transport services decreased by 69.27 percent from US $42.530 million to US $13.070 million.

Meanwhile, the exports of road transport services during the period under review witnessed a decline of 64.10 percent by going down from US $7.020 million to US $2.520 million during this year, it added.

Among the road transport services, the exports of freight services decreased by 64.10 percent, from US $7.020 million to US $2.520 million during the fiscal year under review, while the export of postal and courier services witnessed increase of 103.75 percent, from US $0.800 million to US $1.630 million, the data revealed.

It is pertinent to mention here that the country’s services trade deficit contracted by 50.41 percent during the first two months of the current financial year (2019-20) as compared to the corresponding period of last year.

During the period from July-August 2020-21, services exports decreased by 14.26 percent, whereas imports reduced by 32.81 percent, according the data released by Pakistan Bureau of Statistics.

The services worth US $ 758 million exported during the period under review as compared the exports of US $ 884.14 million in same period of last year, whereas imports of services into the country was recorded at US $ 1220.12 million as against the imports of US $1815.91 million, the data revealed.