Pakistan earns $389m by exporting transport services in 8 months

Pakistan earned $389.834 million by providing different transport services in various countries during the eight months of financial year (2020-21) as compared to the corresponding period last year.

This shows a decrease of 29.26 percent as compared to $551.070 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 an increase of 34.90 percent, by going up from $ 40.400 million last year to $54.500 million during the period under review.

Among the sea transport services, the exports of freight services increased by 61.28 percent from $17.690 million last year to $28.530 million whereas the exports of other sea transport services also rose by 14.35 percent from $22.710 million to $25.970 million current year, the PBS data revealed.

The exports of air transport however witnessed a decrease of 34.01 percent by going down from $478.190 million last year to $315.554 million during July-February (2020-21).

Among the air transport services, the exports of passengers services decreased by 35.59 percent, from $315.660 million to $203.320 million, whereas the exports of freight services rose by 33.93 percent, from $16.740 million to $22.420 million, in addition the export of other air transport services decreased by 38.39 percent from $145.790 million to $89.814 million.

Meanwhile, the exports of road transport services during the period under review witnessed a decline of 50.98 percent by going down from $26.440 million to $12.960 million during this year, it added.

Among the road transport services, the exports of freight services decreased by 63.65 percent, from $26.440 million to $9.610 million during the fiscal year under review, while the export of postal and courier services however witnessed increase of 12.91 percent, from $6.040 million to $6.820 million, the data revealed.

Services

The country’s services trade deficit contracted by 52.37 percent during the first three quarters of the current financial year (2020-21) as compared to the corresponding period of last year.

The services trade deficit during July-March (2020-21) was recorded at $1362.53 million against the deficit of $2860.59 million in July-March (2019-20), according to the latest data of Pakistan Bureau of Statistics (PBS).

The services exports during the period under review witnessed an increase of 0.61 percent and were recorded at $4371.95 million against the exports of $4345.55 million last year.

On the other hand, the imports into the country shrunk by 20.42 percent by falling from $7206.14 million to $5734.48 million, the PBS data revealed.

Meanwhile, on a year-on-year basis, the services exports from the country increased by 31.72 percent and were recorded at $563.95 million in March 2021 against the exports of $428.14 million in March 2020.

On the other hand, the imports also increased by 16.08 percent by going up from $584.09 million in March 2020 to $678.01 million in March 2021, the data revealed.

On a month-on-month basis, the exports from the country however witnessed an increase of 15.82 percent in March 2021 when compared to the exports of $486.93 million in February 2021. On the other hand, imports into the country increased by 7.95 percent in March 2021 when compared to the imports of $628.05 million in February 2021, the PBS data revealed.

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