Image Credits: Pakistan Today
ISLAMABAD, Sep 27 (APP): Pakistan earned US $ 25.030 million by providing different travel services in various countries during the first month of current financial year 2020-21.
This shows negative growth of 34.27 percent as compared to US $38.082 million from the same services that were provided during the corresponding period of last fiscal year 2019-20, Pakistan Bureau of Statistics (PBS) reported. During the month under review, the personal travel services decreased by 34.19 percent, from US $ 37.622 million last year to US $ 24.760 million during July 2020.
Among these personal services, the exports of personal expenditure however, witnessed increase of 50 percent while education related expenditure decreased by 20 percent. In addition, the other personal services also dipped by 34.54 percent, out of which travel and other travel services witnessed negative growth of 98.55 and 34.42 percent respectively. Meanwhile, the exports of business services decreased by 41.30 percent, from US $ 0.460 million to US $ 0.270 million, the PBS data revealed.
The country’s services trade deficit witnessed a decline of 13.79 percent during the first month of the current financial year (2019-20) as compared to the corresponding period of last year. The exports during July 2020 were recorded at US $ 436.05 million against the exports of US $ 459.99 million, showing decline of 5.20 percent, according to latest data of Pakistan Bureau of Statistics (PBS). The imports into the country also witnessed a decline of 9.30 percent by falling from US $ 879.88 million in July 2019 to US $ 798.05 million, the PBS data revealed.
Based on the figures, the services trade deficit in July 2020 was recorded at US $ 362 million against the deficit of US $ 419.89 million in July 2019, showing decline of 13.79 percent.
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