Pharmaceutical goods' export increases by 8% in 5 months of FY 2019-20

Dec 27, 2019: The exports of pharmaceutical products during the first five months of financial year (2019-20) grew by 8.66 percent as compared to those of the corresponding period of last year.

The pharmaceutical exports were recorded at $92.714 million during July-November (2019-20) against $85.323 million during July-November (2018-19), showing an increase of 8.66 percent, according to the Pakistan Bureau of Statistics (PBS).

In terms of quantity, the exports of the pharmaceutical goods increased by 20.84 percent from 4,865 metric tons to 5,879 metric ton, the PBS data shows.

Meanwhile, year-on-year basis, the pharmaceutical exports rose by 34.01 percent during the month of November 2019 as compared to the same month of last year. The pharmaceutical exports in November 2019 were recorded at US $19.586 million against US $ 14.615 million in November 2018.

On month-on-month basis, the exports of pharmaceutical products also increased by 11.85 percent in November 2019 when compared to those of US $ 17.519 million in October 2019.

It is pertinent to mention here that the merchandise trade deficit plunged by 33.04 percent during the first five months of the current fiscal year (2019-20) as compared to that of the same month of last year.

The trade deficit during July-November (2019-20) was recorded at US $ 9.668 billion against the deficit of US $14.439 billion during July-November (2018-19), the data revealed.

The exports during the period increased to US $ 9.545 billion during the current fiscal year against US $ 9.109 billion last year, showing growth of 4.79 percent.

On the other hand, the imports into the country witnessed decline of 18.41 percent by falling from US $ 23.548 billion last year to US $19.213 billion during the current fiscal year, the BPS data revealed.

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APP