Pakistan travel services export reach $140m in Q1 FY22

US$140.994 million earning aquired by Pakistan for its travel services export in various countries during the first 3 months of the current financial year 2021-22.

The Pakistan Bureau of Statistics (PBS) reported:

Pakistan travel services export grew 71.73% to $140.994 million as compared to the $82.100 million of the same services were provided during the corresponding period of the last fiscal year 2020-21. During the month under review, the personal travel services increased by 71.93%, from the US $81.770 million last year to the US $140.584 million during July-September 2021. Among these personal services, the exports of personal expenditure rose by 183.15% while the education-related expenditure increased by 255.88%.

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In addition, the Paksitan Bureau of Statistics (PBS) data revealed:

The other personal services witnessed an increase of 69.92%. Meanwhile, the exports of business services increased by 24.24%, from the US $ 0.330 million to the US $ 0.410 million. The overall exports of services during July-September (2021-22) were recorded at $1572.04 million against the exports of $1275.97 million in July-September (2020-21), showing growth of 23.20%. The imports from the country also rose by 26.54% by growing from $1809.08 million last year to $2289.25 million during the period under review.

Based on the figures, the services’ trade deficit widened by 34.53% to $717.21 million during the first 3 months of the current year as compared to the deficit of $533.11 million last year.