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Pakistan generates $320m from travel services’ export 

Pakistan generates $320m from travel services’ export 

KARACHI: Pakistan earned US $ 320.254 million by providing different travel services in various countries during the first seven months of current financial year 2019-20.

This shows growth of 29.61 percent as compared to US $ 247.090 million same services were provided during the corresponding period of fiscal year 2018-19, Pakistan Bureau of Statistics (PBS) said.

During the period under review, the personal travel services grew by 29.89 percent, from US $ 243.980 million last year to US $ 316.904 million during July-January (2019-20).

Among these personal services, the exports of education related Expenditure and health expenditure decreased by 31.29 and 67.41 percent respectively.

In addition, the other personal services increased by 33.91 percent, out of which religious and other travel services witnessed growth of 189.67 and 33.79 percent respectively.

Meanwhile, the exports of business services also increased by 7.72 percent, from US $ 3.110 million to US $ 3.350 million, the PBS data revealed.

It is pertinent to mention here that the services trade deficit of the country during first seven months of current financial year decreased by 16.95pc as compared the corresponding period of last year.

During the period from July-January, 2019-20, services exports grew by 5.18pc, whereas imports reduced by 4.46pc, according the data released by Pakistan Bureau of Statistics.

The services worth US $ 3.237 billion exported during the period under review as compared the exports of US $ 3.077 billion in same period of last year, whereas imports of services into the country was recorded at US $ 5.211 billion as against the imports of US $ 5.454 billion, the data revealed.