Pakistan generates $225 million from export of travel services: PBS report

WEB DESK: Pakistan generated $225.083 million through the provision of diverse travel services across various countries in the initial four months of the fiscal year 2023–24.

This indicates a growth of 3.25 per cent when compared to the same services, valued at $218.000 million, offered during the corresponding months in the preceding fiscal year 2022–23, as reported by the Pakistan Bureau of Statistics (PBS).

Examining the period in question, personal travel services witnessed a 2.11 per cent increase, rising from $216.670 million in the previous year to $221.243 million during July–October 2023.

Within this category, exports related to health-related expenditures experienced an exceptional surge of 428.95 per cent, while education-related expenditures saw a notable increase of 94.81 per cent. Conversely, other personal services observed a marginal decline of 0.93 per cent.

Simultaneously, business services exports demonstrated substantial growth, soaring by 188.72 per cent from $1.330 million to $3.840 million, according to PBS data.

It is essential to note that service exports during July–October 2023 amounted to $2,416.35 million, reflecting a 3.34 per cent increase compared to the $2,338.28 million recorded in July–October 2022.

Conversely, the country’s imports experienced a significant uptick, surging by 19.57 per cent, escalating from $2,729.22 million in the previous year to $3,263.38 million during the reviewed months.

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