Pakistan earned $166 million by exporting ‘travel services’ in the first quarter of FY19/20

Additionally, personal services increased by 30.68%.

[APP]: Pakistan has earned $166.940 million by exporting travel services during the first quarter of the ongoing fiscal year 2019-20. The numbers have shown a growth of 22.69% compared to the previous year, where the figures stood at $136.070 million, according to the data shared by PBS (Pakistan Bureau of Statistics).

Specifically considering the period under review, personal travel services saw a growth of 23.42 percent, from $133.830 million last year to $165.170 million during July-October (2019-20). Among these, the exports of education-related services and health-related services saw a decline of 69.75 and 81.76 percent respectively.

Additionally, personal services increased by 30.68%. Out of these, religious and other travel services witnessed a growth of 148.37 and 30.51 percent respectively.

Likewise, the business services exports decreased by 20.98 percent during the period. The figures reflect the decline in exports from $2240 million to $1.770 million according to the PBS data.

Merchandise trade deficit plunged:

It is pertinent to mention here that the country’s merchandise trade deficit plunged by 33.04 percent during the first five months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.

The country’s merchandise trade deficit has plunged by 33.04 percent during the initial five months of the ongoing fiscal year (2019-20), compared to the figures of the same span in 2018.

”The trade deficit during July-November (2019-20) was recorded at $9.668 billion against the deficit of $14.439 billion during July-November (2018-19), the data revealed.” (APP)

On the other hand, Pakistan’s imports have declined by 8.41 percent, falling from $23.548 billion last year to $19.213 billion during the ongoing fiscal year.

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