ISLAMABAD – The exports of pharmaceutical products during the first fourmonths of financial year (2019-20) grew by 3.24 percent as compared to theexports of corresponding period of last year.
The pharmaceutical exports were recorded at $73.000 million duringJuly-October (2019-20) as against the exports of $70.707 million duringJuly-October (2018-19), showing growth of 3.24 percent, according to thePakistan Bureau of Statistics (PBS).
In terms of quantity, the exports of the pharmaceutical goods increased by11.12 percent from 4,426 metric tons to 3,983 metric ton, according to thedata.
Meanwhile, year-on-year basis, the pharmaceutical exports however witnesseddecline of 17.84 percent during the month of October 2019 as compared tothe same month of last year.
The pharmaceutical exports in October 2019 were recorded at $ 17.519million against the exports of $21.324 million in October 2018, the PBSdata revealed.
On month-on-month basis, the exports of pharmaceutical products alsodecreased by 3.79 percent in October 2019 when compared to the exports of$18.210 million in September 2019.
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It is pertinent to mention here that the country’s merchandise tradedeficit plunged by 33.52 percent during the first four months of thecurrent fiscal year (2019-20) as compared to the deficit of the same monthof last year.
The trade deficit during July-October (2019-20) was recorded at $7.776billion against the deficit of $11.696 billion during July-October(2018-19), the data revealed.
The exports during the period increased from $7.270 billion during lastyear to $7.547 billion during the current fiscal year, showing growth of3.81 percent.
On the other hand, the imports into the country witnessed decline of 19.21percent by falling from $18.966 billion last year to $15.323 billion duringthe current fiscal year, the data revealed
