Pakistan earns US $327mn from export of travel services in 8 months

ISLAMABAD: Pakistan earned US $327.190 million by providing different travel services in various countries during the eight months of financial year 2020-21.

This shows decrease of 15.04 percent as compared to US $385.094 million same services were provided during the corresponding period of fiscal year 2019-20, Pakistan Bureau of Statistics (PBS) said.

During the period under review, the personal travel services decreased by 14.52 percent, from US $ 381.194 million last year to US $ 325.850 million during July-February (2020-21).

Among these personal services, the exports of personal expenditure however witnessed increase of 28.24 percent while the education related expenditure decreased by 4.83 percent.

In addition, the other personal services also decreased by 14.84 percent, out of which religious and other travel services witnessed decline 94.14 and 14.72 percent respectively.

Meanwhile, the exports of business services also dipped by 65.64 percent, from US $ 3.900 million to US $1.340 million, the PBS data revealed.

It is pertinent to mention here that the services trade deficit of the country during the eight months of financial year (2020-21) decreased by 41.80 percent as compared to the corresponding period of last year.

During the period from July-February, 2020-21, services exports decreased by 0.17 percent, whereas imports reduced by 15.82 percent, according the data released by Pakistan Bureau of Statistics.

The services worth US $ 3.809 billion exported during the period under review as compared the exports of US $ 3.815 billion in same period of last year, whereas imports of services into the country was recorded at US $ 5.147 billion as against the imports of US $ 6.115 billion, the data revealed.