November 19, 2020 (MLN): The exports of Chemical and Pharmaceutical Products witnessed an increase of 29.5% MoM and 34.7% YoY to value at USD 107.7 million during the month of October 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 27.4% of the entire group exports. Total Plastic materials exported during the month under review clocked in at USD 29.52 million, showing a significant growth of 97% MoM and 9.54% YoY.
The second major component of exports under the Chemical and Pharma Group was Pharmaceutical products which contributed a total of 19.5% of the entire group earnings. Total Pharma products exported during the month recorded at USD 21.038 million, marking an increase of 20% YoY and a decline of 23% MoM.
On a cumulative basis, the exports of Pharmaceutical Products during 4MFY21 surged by 22.3% YoY to USD 89.4 million as opposed to USD 73 million recorded in 4MFY20.
Meanwhile, the exports of Surgical goods and Medical instruments during the month of October 2020 surged by around 3% on both MoM and YoY basis to USD 34.4 million, compared to USD 32.9 million in the previous month.
Cumulatively, Surgical goods and medical instruments' export during 4MFY21 witnessed a negligible decline from USD 139.5 million recorded in Jul-Oct FY20 to USD 138.95 million, the latest data released by Pakistan Bureau of Statistic (PBS) showed.
On the import side, the imports of Medicinal products declined to USD 79.8 million in October 2020 when compared with the import during October 2019 (USD 90.6 million), and September 2020 (USD 107.9 million), thus showing a fall of 12% YoY and 26% MoM respectively
Furthermore, during 4MFY21, the imports of Medicinal products rose by 3.2% YoY to USD 359 million from USD 347.7 million reported in Jul-Oct FY20.
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