Pakistan's Transport Services Exports Show Mixed Performance in Fiscal Year 2023-24

Pakistan's revenue from providing transport services in various countries during the first nine months of the current fiscal year (2023-24) amounted to US $667.946 million, marking a slight decrease of 2.20 percent compared to the same period last year. The Pakistan Bureau of Statistics (PBS) released a report detailing the performance of different transport sectors.

Sea Transport Services

The report highlighted that sea transport services exports experienced a mixed performance. While overall sea transport services exports declined by 4.74 percent, freight services saw a significant drop of 47.63 percent. However, other sea transport services witnessed a notable increase of 39.75 percent.

Air Transport Services

Air transport exports also faced a decrease of 3.19 percent. Passenger services declined by 5.95 percent, contrasting with freight services, which increased by 6.06 percent.

Road Transport Services

Road transport services exports showed a remarkable growth of 94.99 percent. Although freight services decreased, other road services experienced a substantial increase, contributing to the overall positive performance in this sector.

Postal and Courier Services

The export of postal and courier services dipped by 3.46 percent during the same period, indicating a slight decline in this segment.

Conclusion

The performance of Pakistan's transport services exports in the first nine months of fiscal year 2023-24 reflects a mixed trend across different sectors. While sea transport and air transport services faced challenges, road transport services showed significant growth. As the fiscal year progresses, it will be crucial for Pakistan to address the challenges faced by sea and air transport services while capitalizing on the growth opportunities in road transport services to enhance overall export performance.