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Pakistan earns US$89.97m from export of travel services during 1Q of FY 21

Pakistan earns US$89.97m from export of travel services during 1Q of FY 21

ISLAMABAD: Pakistan earned US $ 89.970 million by providing different travel services in various countries during the first quarter (Q1) of financial year 2020-21.

This shows decline of 32.33 percent as compared to US $121.124 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 31.89 percent, from US $ 119.784 million last year to US $ 81.590 million during July-September (2020-21).

Among these personal services, the exports of personal expenditure however witnessed an increase of 56 percent while the education related expenditure decreased by 34.74 percent.

In addition, the other personal services also decreased by 32.03 percent, out of which religious and other travel services witnessed decline 97.90 and 31.79 percent respectively.

Meanwhile, the exports of business services also dipped by 71.64 percent, from US $ 1.340 million to US $0.380 million, the PBS data revealed.

It is pertinent to mention here that the services trade deficit of the country during the first quarter of fiscal year (2020-21) decreased by 50.91 percent as compared to the corresponding period of last year.

During the period from July-September, 2020-21, services exports decreased by 5.40 percent, whereas imports reduced by 26.28 percent, according the data released by Pakistan Bureau of Statistics.

The services worth US $ 1.225 billion exported during the period under review as compared the exports of US $ 1.295 billion in same period of last year, whereas imports of services into the country was recorded at US $ 1.764 billion as against the imports of US $ 2.393 billion, the data revealed.