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Pakistan records 27% growth in earnings from travel related services

05:50 PM | 28 Nov, 2023
Pakistan records 27% growth in earnings from travel related services

ISLAMABAD - There has been a growth of 27 percent compared to the previous year in terms of earnings by Pakistan for the provision of travel services, it emerged on Tuesday.

According to the Pakistan Bureau of Statistics (PBS), Pakistan earned US $157.075 million by providing different travel services in various countries during the first three months of the current fiscal year 2023-24.

The country had earned US $122.890 million for the same services during the corresponding months of the last fiscal year 2022-23, implying growth.

Details say that during the months under review, personal travel services increased by 26.19 per cent, from US $122.240 million last year to US $154.255 million during July-September 2023.

Among these personal services, the exports of health-related expenditure rose by 529.17 per cent while the education-related expenditure increased by 49.19 per cent. Moreover, other personal services witnessed a growth of 23.69 per cent.

The PBS data implies that the exports of business services grew by 281.08 per cent, from US$ 0.740 million to US$ 2.820 million.

There has also been some decline recorded for the export of services during July-September 2023 as they were recorded at US$ 1,707.31 million against the exports of US$ 1,717.21 million in July-September 2022; the decline was 0.58 per cent.

As far as the imports are concerned, they surged by 18.10 per cent, growing from US$ 2,028.13 million last year to US$ 2,395.30 million during the months under review.

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 27 Feb 2024

Pakistani currency remains largely stable against US dollar in the open market on February 27, 2024 (Tuesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.4 for buying and 282.3 for selling.

Euro currently stands at 303 for buying and 306 for selling while British Pound rate stands at 351.5 for buying, and 355 for selling.

UAE Dirham AED hovers at 76 whereas the Saudi Riyal saw slight increase, with new rates at 76.7.

Today’s currency exchange rates in Pakistan - 27 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.4 282.3
Euro EUR 303 306
UK Pound Sterling GBP 351.5 355
U.A.E Dirham AED 76 76.7
Saudi Riyal SAR 74.2 75
Australian Dollar AUD 181 183
Bahrain Dinar BHD 742.91 750.91
Canadian Dollar CAD 207 209
China Yuan CNY 38.82 39.22
Danish Krone DKK 40.56 40.96
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 905.46 914.46
Malaysian Ringgit MYR 58.49 59.09
New Zealand Dollar NZD 173.05 175.05
Norwegians Krone NOK 26.36
 
26.66
Omani Riyal OMR 725.54 733.54
Qatari Riyal QAR 76.74 77.44
Singapore Dollar SGD 207 209
Swedish Korona SEK 27.04 27.34
Swiss Franc CHF 317 319.5
Thai Bhat THB 7.76 7.91

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