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HomeEconomyExports of Chemical and Pharma products jump by 53% YoY in Sept’21

Exports of Chemical and Pharma products jump by 53% YoY in Sept’21

October 18, 2021 (MLN): The overall exports of Chemical and Pharmaceutical Products during the month of September’21 witnessed a sharp rise of 53% YoY to $127.318million compared to $74.6mn worth of exports in the previous month.

On a sequential basis, the exports of the same group grew by 11.70% from $113.98mn in August’21.

The Chemical and Pharma products exported from Pakistan primarily include Plastic Materials, Pharmaceutical products, and other Chemicals.

The major chunk of exports under the Chemical and Pharma sector during the month was mostly from the Plastic Materials which contributed a total of 21.19% of the entire group earnings. Total Plastic Materials exported during the month recorded at $26.97mn, marking a massive growth of 80% YoY while on MoM basis it portrayed a slight decline by 9.7%

The second major component of exports under the Chemical and Pharma Group was Pharmaceutical products which contributed a total of 20.8% of the entire group exports. Total Pharma goods exported during the month under review clocked in at $26.48mn, showing a reduction of 3.21% whereas, on MoM basis, the export volume climbed up by 17%.

On a cumulative basis, the exports of Plastic Material and Pharma products during 3MFY22 jumped by 69.02% YoY and 7.36% YoY to $86.95mn and $73.42mn, respectively.

Meanwhile, the exports of Surgical goods and Medical instruments during the month of September’21 moved down by 12% YoY and 3.91% MoM to stood at $29.48mn.

Cumulatively, Surgical goods and medical instruments export during 3MFY22 dropped by 6% YoY from $104.5mn recorded in 3MFY21 to $98.15mn, the latest data released by the Pakistan Bureau of Statistic (PBS) showed.

On the import side, the imports of Medicinal products jumped by 4.2xYoY to $458.19mn in September’21 when compared with the import during September’20 ($107.9mn), and August’21 ($455.25mn).

Furthermore, during 3MFY22, the imports of Medicinal products rose by around 4x YoY to $1.15bn from $279.23mn reported in 3MFY21.

Copyright Mettis Link News

Posted on: 2021-10-18T22:20:19+05:00

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