Pakistan earns $758 million by exporting transport services

ISLAMABAD -Pakistan earned $758.020 million by providing different transport services in various countries during the eleven months of fiscal year (2019-20) as compared to the corresponding period last year.

This shows decrease of 4.81 percent as compared to $ 796.320 million earned through provision of services during the corresponding period of fiscal year (2018-19), Pakistan Bureau of Statistics (PBS) reported.

During the period under review, the exports of air transport witnessed nominal decrease of 0.31 percent by going down from $654.410 million last year to $652.380 million during July-May (2019-20).

Among the air transport services, the exports of passengers services however increased by 13.92 percent, from $381.580 million to $434.680 million, whereas the exports of freight services also grew by 23.35 percent, from $ 19.190 million to $ 23.670 million, in addition the export of other air transport services decreased by 23.50 percent from $253.640 million to $194.030 million.

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The exports of sea transport services rose by 7.59 percent, by going up from $57.070 million last year to $61.400 million this year.

Among the sea transport services, the exports of freight services witnessed increase of 26.95 percent from US $20.560 million last year to $ 26.100 million whereas the exports of other sea transport services decreased by 3.31 percent from $36.510 million to $ 35.300 million this year, the PBS data revealed.

Meanwhile, the exports of road transport services during the period under review witnessed a decline of 60.24 percent by going down from $82.150 million to $32.660 million during this year, it added.

Among the road transport services, the exports of freight services decreased by 57.21 percent, from $76.320 million to $32.660 million during the fiscal year under review, while the export of postal and courier services witnessed increase of 330.48 percent, from $2.690 million to $11.580 million, the data revealed.

It is pertinent to mention here that the services trade deficit of the country during first eleven months of fiscal year (2019-20) decreased by 41.63 percent as compared to the corresponding period of last year. During the period from July-May, 2019-20, services exports decreased by 8.52 percent, whereas imports reduced by 23.61 percent, according the data released by Pakistan Bureau of Statistics.

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The services worth $ 5.050 billion were exported during the period under review as compared to exports of $ 5.520 billion in same period of last year, whereas imports of services into the country were recorded at $ 7.750 billion as against the imports of $10.146 billion, the data revealed.

Article source: https://nation.com.pk/04-Aug-2020/pakistan-earns-dollar-758-million-by-exporting-transport-services