January 15, 2021 (MLN): The exports of Chemical and Pharmaceutical Products witnessed an increase of 17.92% YoY and a decline of 30.43% MoM to value at USD 89.974 million during the month of December 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 Pharmaceutical products which contributed a total of 27.45% of the entire group exports. Total Pharma goods exported during the month under review clocked in at USD 24.7 million, showing a growth of 26.53% YoY and 1% MoM.
The second major component of exports under the Chemical and Pharma Group was Plastic Materials which contributed a total of 20% of the entire group earnings. Total Plastic Materials exported during the month recorded at USD 18 million, marking a significant decline of 39.5% YoY and 72.37% MoM.
On a cumulative basis, the exports of Plastic Material and Pharma products during 1HFY21 jumped by 7.86% YoY and 23.62% YoY to USD 164.43 million and USD 138.75 million as opposed to USD 152.45 million and USD 112.238 million recorded in 1HFY20 respectively.
Meanwhile, the exports of Surgical goods and Medical instruments during the month of December 2020 surged by around 10.33% YoY and dropped by 8% MoM to USD 35.62 million, compared to USD 38.73 million in the previous month and USD 32.28 million in December 2019.
Cumulatively, Surgical goods and medical instruments' export during 6MFY21 witnessed a minor increase of 3% YoY from USD 206.87 million recorded in Jul-Dec FY20 to USD 213.3 million, the latest data released by Pakistan Bureau of Statistic (PBS) showed.
On the import side, the imports of Medicinal products jumped to USD 99.87 million in December 2020 when compared with the import during December 2019 (USD 87.68 million), and November 2020 (USD 78.579 million), thus showing a growth of 13.9% YoY and 27% MoM respectively.
Furthermore, during 6MFY21, the imports of Medicinal products rose by 4.5% YoY to USD 538.94 million from USD 515.42 million reported in Jul-Dec FY20.
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