Pharmaceuticals’ exports inflate by 68% MoM, 49% YoY in September
MG News | October 20, 2020 at 12:47 PM GMT+05:00
October 20, 2020 (MLN): The exports of Chemical and Pharmaceutical Products witnessed an increase of 26.46% MoM and 4% YoY to value at USD 82.98 million during the month of September 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 32.7% of the entire group exports. Total Pharma products exported during the month under review clocked in at USD 27.15 million, showing a significant growth of 68.47% MoM and 48.77% YoY.
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 material exported during the month recorded at USD 14.98 million, marking a decline of 42.7% YoY and 14.7% MoM.
On a cumulative basis, the exports of Pharmaceutical Products during 1QFY21 surged by 22.6% YoY to USD 68 million as opposed to USD 55.6 million recorded in 1QFY20.
Meanwhile, the exports of Surgical goods and Medical instruments during the month of September 2020 surged by around 2% MoM to USD 33.5 million, compared to USD 32.9 million in the previous month.
On yearly basis, the export of surgical goods and medical instruments increased by 3.45% during the month mentioned above compared to USD 32.4 million in same month of a year ago.
Cumulatively, Surgical goods and medical instruments' export during 1QFY21 witnessed a marginal decline from USD 106 million recorded in Jul-Sep FY20 to USD 104.5 million, the latest data released by Pakistan Bureau of Statistic (PBS) showed.
On the import side, the imports of Medicinal products grew to USD 107.9 million in September 2020 when compared with the import during September 2019 (USD 90.47 million), and August 2020 (USD 81.98 million), thus showing an upsurge of 19.27% YoY and 31.6% MoM respectively
Furthermore, during 3MFY21, the imports of Medicinal products rose by 8.6% YoY to USD 279.2 million from USD 257 million reported in Jul-Sep FY20.
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