Pakistan earns $500m from exporting travel services

ISLAMABAD – Pakistan earned $500.031 million from exporting different travel services to various countries in the eleven months of the 2021-22 financial year. This shows a growth of 8.94% from the $458.980 million that the same services were provided in the corresponding period of the last fiscal year 2020-21, the Pakistan Bureau of Statistics (PBS) reported. In the month under review, personal travel services increased by 8.85% from $457.030 million last year to $497.491 million in July-May 2021-22. Among these personal services, exports of health-related expenses increased by 80% while education-related expenses fell by 4.51%. In addition, other personal services experienced an increase of 8.89%. Meanwhile, business services exports also increased by 30.26 percent, from $1.950 million to $2.540 million, PBS data showed. It is pertinent to mention here that the country’s service exports witnessed an increase of 17.71% in the eleven months of the fiscal year (2021-22) compared to the corresponding period last year, reported Pakistan Bureau of Statistics (PBS). . Services exports in July-May (2021-22) were recorded at $6,318.11 million compared to exports of $5,367.36 million in July-May (2020-21).
Imports also increased by 35.49% from $7,590.19 million last year to $10,284.29 million during the period under review.