In the initial month of the 2023-24 fiscal year, Pakistan achieved earnings of US $57.030 million through the provision of various travel services across different nations. This reflects a substantial growth of 26.51 percent when compared to the same services’ worth in the corresponding month of the previous fiscal year, which amounted to US $45.080 million, as reported by the Pakistan Bureau of Statistics (PBS).
Within this period, personal travel services exhibited a noteworthy increase of 25.61 percent, soaring from US $44.900 million in the previous year to US $56.400 million in July 2023. Among these personal services, the exports related to health expenditures witnessed an impressive surge of 766.67 percent, while education-related expenditures increased by 61.22 percent. Additionally, other personal services experienced a growth of 23.21 percent.
Concurrently, the exports of business services demonstrated remarkable growth, expanding by 250 percent, from US $0.180 million to US $0.630 million, as per PBS data.
It’s worth noting that overall, the exports of services from Pakistan recorded a modest increase of 2.17 percent in the first month of the current fiscal year (2023-24) in comparison to the corresponding month of the previous year. In specific figures, the exports of services in July 2023 amounted to US $538.00 million, marking a growth of 2.17 percent compared to the US $526.58 million recorded in July 2022.
Simultaneously, the country’s imports experienced a substantial uptick, surging by 45.22 percent, rising from US $558.43 million in the previous year to US $810.93 million during the reviewed month.
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