Pakistan earns $61.8m from transport services export

"Pakistan earned $61.850 million by providing different transport services in various countries during the first two months of current financial year (2019-20) as compared to the corresponding period of last year.

This shows increase of 24.60 percent as compared to $ 49.003 million earned through provision of services during the corresponding period of fiscal year (2018-19), Pakistan Bureau of Statistics (PBS) reported.

During the period under review, the exports of sea transport services grew by 47.95 percent, by going up from $1.460 million last year to $2.160 million during JulyAugust (2019-20).

Among the sea transport services, the exports of freight services witnessed decreased of 12.33 percent by declining from $1.460 million last year to $1.280 million whereas the exports of other sea transport services increased by 100 percent to $0.880 million this year, the PBS data revealed.

The exports of air transport services during the period under review also witnessed an increased of 44.75 percent by going up from $38.060 million last year to $55.090 million.

Among the air transport services, the exports of passengers services increased by 95.77 percent, from $19.400 million to $ 37.980 million, whereas the exports of freight services decreased by 42.52 percent, from $3.010 million to $1.730 million.

Meanwhile, the exports of road transport services during the period under review witnessed a decline of 59.27 percent by going down from $8.273 million to $3.370 million during this year, it added.

Among the road transport services, the exports of freight services decreased by 59.27 percent, from $8.273 million to $3.370 million during current year, while the export of postal and courier services also decreased by 63.64 percent, from $1.210 million to $ 0.440 million, the data revealed.

It is pertinent to mention here that the country's merchandise trade deficit plunged by 34.85 percent during the first three months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.

The trade deficit during July-September (2019-20) was recorded at $ 5.727 billion against the deficit of $8.791 billion during July-September (2018-19).

The exports increased from $5.374 billion during last year to $5.522 billion during the current fiscal year, showing growth of 2.75 percent.

On the other hand, the imports into the country witnessed declined of 20.6 percent by falling from $14.165 billion last year to $11.249 billion during the current fiscal year, the data revealed.