Pakistan's Earns US $48 Million From Travel Services' Export

Sumaira FH Published October 23, 2020 | 01:02 PM

Pakistan earned US $ 48.930 million by providing different travel services in various countries during the first two months of financial year 2020-21

ISLAMABAD, (UrduPoint / Pakistan Point News - 23rd Oct, 2020 ) :Pakistan earned US $ 48.930 million by providing different travel services in various countries during the first two months of financial year 2020-21.

This shows decline of 41.14 percent as compared to US $ 83.134 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 witnessed decreased by 41.07 percent, from US $ 82.284 million last year to US $ 48.490 million during July-August (2020-21).

Among these personal services, the exports of personal expenditure increased by 60 percent by going up from $0.150 million last year to $0.240 million whereas education related expenditure decreased by 11.96 by going down from $0.920 to $0.810 million.

In addition, the other personal services also dipped by 41.59 percent, out of which religious and other travel services witnessed negative growth of 97.

59 and 41.41 percent respectively.

Meanwhile, the exports of business services also decreased by 48.24 percent, from US $ 0.850 million to US $ 0.440 million, the PBS 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.