Export of travel services earns $391.3 mln in 11 months

ISLAMABAD, Jul 30 (APP):Pakistan earned $391.300 million by providing different travel services in various countries during the first eleven months of the fiscal year 2018-19.
This shows growth of 15.35 percent when compared to $339.220 million same services provided during the corresponding period of fiscal year 2017-18, Pakistan Bureau of Statistics (PBS) reported.

During the period under review, the personal travel services grew by 15.59 percent, from $335.410 million last year to $387.690 million during July-May (2018-19).
Among these personal services, the exports of health and education related services increased by 34.62 percent and 16.5 percent respectively.

In addition, the other personal services increased by 15.41 percent, out of which only religious travel services witnessed growth of 210.77 percent.

On the other hand, the business services exports, however decreased by 5.25 percent during the period as its exports declined from $3.810 million to $3.610 million, the PBS data revealed.
It is pertinent to mention here that the country’s services trade deficit narrowed by 28.22 per cent during the first eleven months of the current fiscal year compared to the corresponding period of last year.
The services trade deficit during July-May (2018-19) was recorded at US$ 3.944 billion against the deficit of US$ 5.496 billion during July-May (2017-18), showing decline of 28.22 per cent, the official data revealed.
The services’ imports into the country during the period under review decreased by 14.45 per cent to US $8.837 billion from US $10.330 billion last year

On the other hand, the exports of services from the country witnessed an increase of 1.21 per cent during the period. The services exports during the first eleven months of the current fiscal year were recorded at US$ 4.892 billion against the exports of US$4.834 billion during the same period of last year.