Exports of Pharma and Chemical products surge by 61% YoY in July’21

August 28, 2021 (MLN): The export volume of Chemical and Pharmaceutical Products escalated by 61.37% YoY to clock in at $121.52million during July’21 while, the export of the similar group plummeted by 13% YoY.

Primarily, plastic materials, pharmaceutical products, and other chemicals are included under the category of Chemical and Pharma products exported from Pakistan.

The major chunk of exports under the Chemical and Pharma sector during the month was mainly from other chemicals which contributed a total of 55% of the entire group exports. Total chemical export recorded during July’21 stood at $67mn showed a twofold surge on yearly basis, while on monthly basis, the export volume of the same commodity jumped by 15%.

The second major component of exports under the Chemical and Pharma Group was Plastic material which contributed a total of 25% of the entire group earnings. Total plastic products exported during the month were recorded at $30mn, augmented by 59% YoY, compared to the export in July’20. On the other hand, the export fell down by 42% on monthly basis.

In addition, pharmaceutical products were also remained the significant export segment with a contribution of 20% in total group export as total export of this segment locked in at $24.3mn, depicting a meagre decline of 1% YoY. Likewise, on monthly basis, the export of the same segment went down by 18% compared to June’21.

Meanwhile, the export volume of surgical goods and medical instruments remained relatively flat on yearly basis, while the export of same commodity fell by 2.8% on MoM basis to clocked in at $38mn in the month of July’21.

On the import side, the import bill of Medicinal products climbed up by 2.5x YoY whereas on MoM basis showing a dip of 4% to stood at $234.13mn in July’21.

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