Pakistan earns over $3.63 billion from export of transport services

The transport services by Pakistan in other countries increased by 3.29 percent during the first eleven months of financial year 2017-18 compared to the corresponding period of last year.

Pakistan exported transport services worth $3630.695 million in July-May (2017-18) against the exports of services worth $3514.894 million in July-May (2016-17), showing a growth of 3.29 percent, according to Pakistan Bureau of Statistics (PBS).

Among these, the air transport services' export increased by 3.93 percent and reached to $791.260 million during the period under review, against $761.350 million last year.

Among the air transport services, exports of passenger services surged by 14.55 percent, from $433.980 million to $497.140 million, the data revealed.

However, the freight service exports witnessed a decline of 2.51 percent as it went down from $17.950 million to $17.500 million while the exports of all other air transport services also declined by 10.60 percent by slipping from exports of $309.420 million last year to $276.620 million in 20117-18.

On the other hand, the sea transport exports increased by 12.62 percent by growing from $2049.020 million to $2307.700 million. Among sea transport, the freight service export increased by 13.09 percent from $192.048 million to $2074.620 million while the export of other sea transport service increased by 8.62 percent by increasing from $214.580 million to $233.080 million.

Meanwhile, the services of road and rail transport witnessed a decline of 9.44 percent and 12.61 percent in exports during the period under review.

The road transport services declined from $19.348 million to $17.522 million whereas the rail transport service dipped from $8.906 million to $7.783 million, the PBS data revealed. 

It is pertinent to mention here that the exports of services from the country witnessed a negative growth of 7.91 percent during the first eleven months of the fiscal year 2017-18 against the corresponding period of last year.

The exports of services from the country during July-May (2017-18) were recorded at $4.696 billion against the exports of $5.099 billion during July-May (2016-17), showing decline of 7.91 percent, according to latest data of Pakistan Bureau of Statistics (PBS).

The imports of services into the country, however increased by 4.98 percent by going up from $8.980 billion during FY2016-17 to $9.428 billion in FY2017-18.

Based on the figures, the services trade deficit during the period under review increased by 21.93 percent as it went up from the deficit of $3.881 billion in FY2016-17 to $4.732 billion during FY2017-18, according to the PBS data 

(APP)