Daily Times

Pakistan earned US $100.920 million by providing different transport services in various countries during the first three months of financial year (2020-21) as compared to the corresponding period last year.

This shows decrease of 48.55 percent as compared to US $196.140 million earned through provision of services during the corresponding period of fiscal year (2019-20), Pakistan Bureau of Statistics (PBS) reported. During the period under review, the exports of sea transport services however witnessed increased of 373.80 percent, by going up from US $6.640 million last year to US $ 31.460 million during the period under review.

Among the sea transport services, the exports of freight services increased by 271.03 percent from US $3.900 million last year to US $14.470 million whereas the exports of other sea transport services also rose by 520.07 percent from US $2.740 million to US $16.990 million current year, the PBS data revealed.

The exports of air transport witnessed decrease of 64.87 percent by going down from US $178.860 million last year to US $62.840 million during July-September (2020-21). Among the air transport services, the exports of passengers services decreased by 65.23 percent, from US $114.390 million to US $39.770 million, whereas the exports of freight services also dipped by 2.89 percent, from US $5.190 million to US $5.040 million, in addition the export of other air transport services decreased by 69.59 percent from US $59.280 million to US $18.030 million.

Meanwhile, the exports of road transport services during the period under review witnessed a decline of 65.03 percent by going down from US $9.380 million to US $3.280 million during this year, it added.

Among the road transport services, the exports of freight services decreased by 65.03 percent, from US $9.380 million to US $3.280 million during the fiscal year under review, while the export of postal and courier services however witnessed increase of 165.08 percent, from US $1.260 million to US $3.3340 million, the data revealed.

It is pertinent to mention here that the country’s services trade deficit contracted by 50.91 percent during the first three months of the current financial year (2020-21) as compared to the corresponding period of last year. During the period from July-September 2020-21, services exports decreased by 5.40 percent, whereas imports reduced by 26.28 percent, according the data released by Pakistan Bureau of Statistics. The services worth US $1225.26 million exported during the period under review as compared the exports of US $1295.26 million in same period of last year, whereas imports of services into the country was recorded at US $1764.13 million as against the imports of US $2393.08 million, the data revealed.

LSM grows 5.5% in July-October:

The Large Scale Manufacturing during first four months of current fiscal year recorded a growth of 5.5 per cent as compared to the same period of last year.

On Year-on-Year (YoY), the LSM recorded significant growth of 6.6 percent in October 2020 compared same month of the preceding year, Pakistan Bureau of Statistics (PBS) reported on Tuesday.

The LSMI Quantum Index Number (QIM) was recorded at 138.03 points during October 2020 against 128.22 points during October 2019, showing positive growth of 6.6 percent, according to the PBS data.

The industrial production during July-October (2020-21) was recorded at 136.08 points against the output of 129.04 points during July-October (2019-20).

The highest increase of 3.74 percent was witnessed in the indices monitored by the Ministry of Industries, followed by 1.63 percent increase in indices monitored by the Provincial Board of Statistics and 0.1 percent increase in the products monitored by the Oil Companies Advisory Committee (OCAC).

Meanwhile, on month-on-month basis, the industrial growth witnessed increase of 3.95 percent in October 2020 when compared with the indices of September 2020, the PBS data revealed.

Meanwhile, the major sectors that showed positive growth during October 2020 included textile (2.24%) food, beverages and tobacco (12.16%), coke and petroleum products (1.57%), pharmaceuticals (13.53 %), chemicals (9.22%), non-metallic mineral products (22.88%), fertilizers (5.99%), paper and board (10.46%) and rubber products (3.3%).

On the other hand, the LSM industries that witnessed negative growth, included automobile (1.62%), iron and steel products (5.41%), electronics (23.01%), leather products (43.18%), engineering products (34.05%) and wood products (64.05%).

It is pertinent to mention here that the provisional QIM is being computed on the basis of the latest production data received from sources, including Oil Companies Advisory Committee (OCAC), Ministry of Industries and Production (MoIP) and Provincial Bureaus of Statistics (PBoS). app