December 21, 2020 (MLN): The exports of Chemical and Pharmaceutical Products witnessed an increase of 19.66% MoM and 68.7% YoY to value at USD 129 million during the month of November 2020.
The Chemical and Pharma products exported from Pakistan mainly include Plastic Materials, Pharmaceutical products and other Chemicals.
The major chunk of exports under Chemical and Pharma sector during the month was mainly from the Plastic Materials which contributed a total of 50.6% of the entire group exports. Total Plastic materials exported during the month under review clocked in at USD 65.397 million, showing a significant growth of 121.48% MoM and 253.36% YoY.
The second major component of exports under the Chemical and Pharma Group was Pharmaceutical products which contributed a total of 18.8% of the entire group earnings. Total Pharma products exported during the month recorded at USD 24.307 million, marking an increase of 24% YoY and 14.5% MoM.
On a cumulative basis, the exports of Plastic Material and Pharma products during 5MFY21 jumped by 19.4% YoY and 22.87% YoY to USD 146.37 million and USD 113.92 million as opposed to USD 122.59 million and USD 92.7 million recorded in 5MFY20 respectively.
Meanwhile, the exports of Surgical goods and Medical instruments during the month of November 2020 surged by around 12.8% MoM and 10.76% YoY to USD 38.85 million, compared to USD 34.4 million in the previous month and USD 35 million in November 2019.
Cumulatively, Surgical goods and medical instruments' export during 5MFY21 witnessed a marginal increase of 1.84% YoY from USD 174.58 million recorded in Jul-Nov FY20 to USD 177.8 million, the latest data released by Pakistan Bureau of Statistic (PBS) showed.
On the import side, the imports of Medicinal products declined to USD 78.6 million in November 2020 when compared with the import during November 2019 (USD 80 million), and October 2020 (USD 81.2 million), thus showing a fall of 1.76% YoY and 3.26% MoM respectively.
Furthermore, during 5MFY21, the imports of Medicinal products rose by 2.65% YoY to USD 439 million from USD 427.7 million reported in Jul-Nov FY20.
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