Pakistan earns US $255m from travel services’ export in 1st half

Pakistan earns US $255m from travel services' export in 1st half

ISLAMABAD, Mar 1 (APP): The country has earned US $255.170 million by providing different travel services in various countries during the first half of the current fiscal year 2022-23.

This shows negative growth of 9.52 percent as compared to the US $282.101 million worth same services provided during the corresponding period of the last fiscal year 2021-22, the Pakistan Bureau of Statistics (PBS) reported.

During the period under review, personal travel services decreased by 9.85 percent, from US $280.920 million last year to US $253.260 million during July-December 2022.

Among the personal services, the exports of health-related expenditure dipped by 50.62 percent while the education-related expenditure also dropped by 17.78 percent.

In addition, other personal services witnessed a decrease of 9.42 percent.

Meanwhile, the exports of business services grew by 75.23 percent, from US$ 1.090 million to US$ 1.910 million, the PBS data revealed.

It is pertinent to mention here that the exports of services from the country, witnessed an increase of 2.77 percent during the first six months of the current financial year (2022-23) as compared to the corresponding period of last year, it added.

The exports of services during July-December (2022-23) were recorded at US$ 3526.97 million against the exports of US$ 3431.77 million in July-December (2021-22), showing a growth of 2.77 percent.

The imports of the country witnessed a decline of 30.28 percent, falling from US$ 5571.35 million last year to US$ 3884.43 million during the period under review.

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