May 24, 2021 (MLN): The exports of Chemical and Pharmaceutical Products went down by27.4% MoM to clock in at $107million during April’21. However, the export of the similar group depicted a surge of 43.67% YoY.
The Chemical and Pharma products exported from Pakistan mainly include Plastic Materials, Pharmaceutical products, and other Chemicals.
The major chunk of exports under the Chemical and Pharma sector during the month was mainly from other chemicals which contributed a total of 60.89% of the entire group exports. Total chemical export recorded during April’21 stood at $68.4mn showed a decline of 32% MoM whereas, on the YoY basis, the similar product posted an uptick of 82.83%.
The second major component of exports under the Chemical and Pharma Group was Plastic material which contributed a total of 18% of the entire group earnings. Total plastic products exported during the month were recorded at $19.33mn, reported a decline of 27.76% YoY and 19.17% MoM.
Parallel to plastic, Pharmaceutical products were also remained to be the major export segment with a contribution of 18% in total group export as total export of this segment locked in at $19.32mn, showing significant growth of 86.9% YoY. However, on monthly basis, the same segment depicted a decline in exports by 15.14% compared to March’21.
On a cumulative basis, the exports of the Chemical and Pharma group during 10MFY21 jumped by 17.58% to $951.2mn as opposed to $809mn recorded in 10MFY20 respectively.
Meanwhile, the exports of Surgical goods and Medical instruments witnessed a surge of 3x YoY whereas a decline of 9.33% MoM stood at $35.76mn during the month of April 2020.
Cumulatively, surgical goods and medical instruments export during 10MFY21 climbed up by 14.22% YoY from $315.22mn recorded in Jul-April FY20 to $360mn, the latest data released by the Pakistan Bureau of Statistic (PBS) showed.
On the import side, the imports of Medicinal products increased by 2x YoY and 34.6% MoM to stood at $156mn in April’21. Furthermore, during 10MFY21, the imports of Medicinal products rose by 19.21% YoY to $1bn from $831mn reported in Jul-April FY21.
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