Pharmaceutical goods’ exports increase 7.21% in 8 months
ISLAMABAD: The export of pharmaceutical goods from the country witness an increase of 7.21 percent during the first eight months of current financial year (2019-20) as compared to the export of corresponding period of last year.
The pharmaceutical exports were recorded at US $149.540 million during July-February (2019-20) as against the export of US $139.487 million during July-February (2018-19), showing growth of 7.21 percent, according to the Pakistan Bureau of Statistics (PBS).
In term of quantity, the export of pharmaceutical products also increased by 11.08 percent by going up from 8,568 metric ton to 9,517 metric ton, according to the data.
Meanwhile, year- on- year basis the pharmaceutical export also grew by 27.44 percent during the month of February 2020 as compared to the same month of last year.
The pharmaceutical exports in February 2020 were recorded at US $ 20.303 million against the export of $15.932 million in February 2019, the PBS data revealed.
On month- on- month basis, the exports of pharmaceutical product increase by 19.44 percent in February 2020 when compared to $16.999 million in January 2019.
It is pertinent to mention here that the country’s merchandise trade deficit plunged by 26.06 percent during the first eight months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.
During the period under review, the country’s exports registered about 3.62 percent growth, whereas imports reduces by 13.81 percent, according the foreign trade statistics, released by the Pakistan Bureau of Statistics (PBS).
During the period from July-February (2019-20), exports reached to US $15.643 billion against the exports of US $15.097 billion of the same period of last year, it added.
Meanwhile, the country’s imports witnessed significant decrease of 13.81 % as these went down from US $36.563 billion in first eight months of last financial year to US $ 31.515 billion of same period of current financial year, it said. – APP