Exports of transport services rise by 5.7% to $977.5 million in one year

The transport services by Pakistan in other countries increased by 5.74 percent during the financial year 2017-18 compared to last year, Pakistan Bureau of Statistics (PBS) reported.

Pakistan exported transport services worth $977.470 million in July-June (2017-18) against the exports of worth $924.371 million in July-May (2016-17), showing 5.74 percent growth, according to data of Pakistan Bureau of Statistics (PBS).

Among these, the air transport services export increased by 7 percent and reached to $898.590 million during the period under review against $839.790 million last year.

Among the air transport services, exports of passenger services surged by 13.51 percent, from $479.720 million to $544.540 million, the data revealed while the freight service exports witnessed increase of 3.33 percent by going up from $19.510 million to $20.160 million.

However, the other air transport services declined by 1.96 percent by slipping from exports of $340.560 million last year to $333.890 million in 2017-18.

On the other hand, the exports of sea transport services slipped by 48.56 percent by going down from $40.180 million to $20.670 million. Among sea transport, the freight service export decreased by 27.23 percent from $13.110 million to $9.540 million while the export of other sea transport service decreased by 58.88 percent by slipping from $27.070  million to $11.130 million.

Meanwhile, the services of road and rail transport witnessed increase of 26.44 percent and 1000 percent in exports during the period under review.

The road transport services increased from $42.011 million to $53.120 million whereas the rail transport service increased from $0.010 million to $0.110 million, the PBS data revealed. 

It is pertinent to mention here that the overall exports of services from the country witnessed negative growth of 6.29 percent during financial year 2017-18 as compared to the corresponding period of last year.

The services exports during July-June (2017-18) were recorded at $5.205 billion against the exports of $5.554 billion during July-June (2016-17).

The imports of services into the country increased from $9.893 billion last year to $10.376 billion during FY 2017-18, showing positive growth of 4.88 percent.

Based on the figures, the services trade deficit during the fiscal year 2017-18 fiscal year witnessed growth of 19.18 percent by going up from the deficit of $4.338 billion last year to $5.171 billion during FY2017-18.

(APP)