Pakistan earns USD 320 Million from travel services export

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Pakistan earned USD 320 million by providing various travel services in different countries in the first seven months of the 2019-2020 fiscal year. This shows growth of 29.6 percent compared to the USD 247 million that was generated during the corresponding period of the 2018-19 financial year, said Pakistan Bureau of Statistics (PBS).

During the reporting period, personal travel services increased 29.9 percent from USD 243 million in the previous year to USD 317 million from July to January (2019 to 2020).

Among these personal services, education and health care exports decreased 31.3 and 67.4 percent, respectively.

In addition, other personal services grew 33.9 percent, with religious and other travel services growing 189.6 percent and 33.8 percent, respectively.

Business services exports also increased 7.7 percent from USD 3 million to $ 3.3 million, according to the PBS data.

It should be mentioned here that the country’s trade deficit decreased by 16.9 percentage points in the first seven months of the current financial year compared to the same period in the previous year.

In the period from July to January 2019-20, service exports rose by 5.2 percentage points, while imports declined by 4.7 percentage points, according to the Pakistani statistical office.

Services worth USD 3.3 billion were exported during the reporting period, compared to exports of USD 3.1 billion in the same period last year, while imports of services into the country stood at USD 5.2 billion versus imports of The data revealed USD 5.5 Billion.

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