Irfan Ahmed

Pakistan got $69.980 million by providing transportation services to other countries during July 2022, WealthPK reports. According to the Pakistan Bureau of Statistics (PBS), the export of transportation services from Pakistan grew by 68.33% year-on-year and reached $69.980 million in July 2022 as compared to $40.980 million in July 2021. On a month-on-month basis, the export of transportation services increased by 0.23% and reached $68.980 in July 2022 as compared to $68.820 million in June 2022.

Source: PBS website/WealthPk research
On a year-on-year basis, the export of sea transport services from the country increased by 235.80% and reached $16.320 million in July 2022 against $4,860 million in the same month of the previous year. On a month-on-month basis, the export of sea transport services increased by 4.82% and reached $16.320 in July 2022 as compared to $15.570 million in June 2022. Among the sea transport services, the export of freight services increased by 316.54% to $11.330 million in the first month of the current fiscal from $2.720 million in the same month of the previous year. The export of other sea transport services also increased by 133.18% to $4.990 million in July 2022 from $2.140 million.

On a year-on-year basis, the export of air transport services from the country increased by 43.85% and reached $50.780 million in July 2022 against $35.300 million in the same month of the previous year. Among the air transport services, the exports of passenger services increased by 27.13% to $34.720 million from $27.310 million whereas the export of freight services also increased by 16.48% to $2.120 million from $1.820 million. In addition, the export of other air transport services increased by 125.93% to $13.940 million from $6.170 million. The export of air transport services increased by 0.34% and reached $50.780 million month in July 2022 as compared to $50.610 million in June 2022.

On a year-on-year basis, the export of road transport services from the country increased by 594.74% to $1.320 million in July 2022 from $0.190 million during the same month of the previous year. Among the road transport services, the export of freight services increased by 161.54% to $0.340 million from $0.130 million in the first month of the current fiscal while the export of postal and courier services decreased by 11.11% to $0.540 million from $0.630 million, according to the PBS data. On a month-on-month basis, the export of postal and courier services from the country decreased by 54.84% to $0.560 million in July 2022 from $1.240 million in June 2022.

The services sector has also become the primary engine of economic growth, contributing 61% to Gross Domestic Product in 2020-21, up by 56% from its contribution in 2005-06. Overall transport services grew at a fast rate, pushing up the overall export figure. During the financial year 2022-23, the government aggressively promoted the rapidly expanding services sector, particularly by easing export revenues and providing tax breaks and incentives to exporters. According to analysts, China’s contribution to the development of Gwadar port will benefit the people of the entire region and the transportation sector of Pakistan.

Credit: Independent News Pakistan-WealthPk