INP-WealthPk

Pakistan Gets Over $562 Million as Transport Services Export Increases

May 23, 2022

By Irfan Ahmed ISLAMABAD, May 23, (INP-WealthPK): Pakistan received $562.750 million by providing transportation services to other countries of the world during the first three quarters of the current fiscal, reports WealthPK. According to Pakistan Bureau of Statistics (PBS), the export volume of transport services by the country reached $562.750 million during July to March in the current fiscal, showing an increase of 27.32%, as it was $441.980 million during the same period of the last fiscal. [caption id="attachment_67356" align="aligncenter" width="696"] Source: PBS website/WealthPk research[/caption] On a year-on-year basis, the export of transport services by the country grew to $59.990 million in March 2022, from $40.980 million during the same month last year, registering an increase of 46.39%. Similarly, transport services export increased by 5.45% on a month-on-month basis, as it was $58.890 million in February 2022. [caption id="attachment_67355" align="aligncenter" width="696"] Source: PBS website/WealthPk research[/caption] The export of sea transport services witnessed an increase of 52.87% as it went up from $61.260 million last year to $93.650 million from July to March in 2021-22. Among the sea transport services, the export of freight services witnessed an increase of 104.56% by growing from $26.250 million last year to $54.250 million. The exports of other sea transport services also increased by 13.41% from $34.740 million to $30.400 million in the current fiscal. On a year-on-year basis, the export of sea transport services by the country reached $12.260 million in March 2022 against $5.090 million during the same month last year, registering an increase of 140.86%. On a month-on-month basis, sea transport services export increased by 27.44% in March 2022, compared with $9.620 million in February 2022. The export of air transport rose by 26.07% from $358.390 million last year to $451.820 million from July to March in the current fiscal. Among the air transport services, the export of passenger services increased by 22.64% from $236.840 million to $290.460 million. However, the export of freight services dipped by 0.64% from $23.410 million to $23.260 million. The export of other air transport services increased by 40.72% from $98.140 million to $138.100 million. On a year-on-year basis, air transport services export by the country increased by 37.58% to $45.870 million in March 2022 from $33.340 million during the same month last year. Air transport services export increased by 0.81% month-on-month,  reaching $45.870 million in March 2022, compared with $45.500 million in February 2022. Meanwhile, the export of road transport services from July to March witnessed a decline of 24.51%, going down from $14.810 million to $11.180 million in the current fiscal. Among the road transport services, the export of freight services decreased by 74.95% from $11.060 million to $2.770 million. The export of postal and courier services also decreased by 18.88% from $7.520 million to $6.100 million. On a year-on-year basis, the export of road transport services decreased by 53.51% and dipped to $0.860 million in March 2022 from $1.850 million during the same month last year. The export of postal and courier services decreased by 18.88%, going down from $7.520 million last year to $6.100 million from July to March in the current fiscal. However, on a year-on-year basis, export of postal and courier services increased by 42.86%, reaching $1.00 million in March 2022 against $ 0.7 million during the same month last year.