The country earned $255.170 million by offering various travel services in other countries during the first half of the current fiscal year 2022-23. According to the Pakistan Bureau of Statistics (PBS), this represents a negative growth of 9.52% when compared to the $282.101 million worth of the same services offered during the same time of the previous fiscal year 2021-22.

Personal travel services fell by 9.85% over the period under consideration, from $280.920 million in the previous year to $253.260 million from July to December of 2022. Among the personal services, the exports of spending on health care and education fell by 50.62% and 17.78%, respectively. In addition, expenditure on other personal services also fell by 9.42%.

Business service exports increased from $1.090 million to $1.910 million, a growth of 75.23%. It is important to note that the exports of services from the country increased by 2.77% in the first half of the current fiscal year (2022-23) compared to the same time in the previous year, the PBS said.

The exports of services in the July-December period of 2022-23 totalled $3,526.97 million, up 2.77% from the $3,431.77 million exports from July through December of 2021-22. The country's imports fell by 30.28% during the study period, from $5,571.35 million in the previous year to $3,884.43 million.

Credit: Independent News Pakistan-WealthPk