Pakistan makes US $562m by exporting transport services in FY 2021-22

ISLAMABAD: Pakistan earned a total of US $562.740 million by providing various transport services to other countries in the first nine months of the current fiscal year (2021-2022).

The revenue generated in the period under review is 27.32 percent higher than the previous year’s total revenue of US $441.980 million, reports the Pakistan Bureau of Statistics (PBS).

During the current fiscal year, sea transport services made the highest leap with an increase of 52.87 percent. The revenue jumped from last years US $61.260 million to US $93.650 million in the first nine months of the current year.

Among the country’s various sea transport services, the revenue from freight services nearly doubled with an increase of 104.56 percent as compared to last year. The export value increased from US $26.520 million to US $54.250 million during the period under review.

Air transport exports have also seen a positive growth as the service increased by 26.07 percent, going up from US $358.390 million to US $451.820 million. The highest revenue-generating service is the export of passengers’ services, totalling up to $290.410 million.

Road transport services took a dip as revenues witnessed a steep decline of 24.51 percent under the current fiscal year, going down from US $14.810 million to US $11.180 million. Freight services declined by 74.95 percent, going from US $11.060 to US $2.770 million, the PBS data revealed.