Medicinal Imports Dip Over 8% In 8 Months Of FY 2019-20

Medicinal imports dip over 8% in 8 months of FY 2019-20

The imports of medicinal products into the country during the first eight months of current financial year (2019-20) dipped by 8.82 percent as compared to the corresponding period of last year

ISLAMABAD, (UrduPoint / Pakistan Point News - 26th Mar, 2020 ) :The imports of medicinal products into the country during the first eight months of current financial year (2019-20) dipped by 8.82 percent as compared to the corresponding period of last year.

Pakistan imported medicinal products of worth US $ 677.803 million during July-February (2019-20) compared to the imports of US $ 743.353 million during July- February (2018-19), showing negative growth of 8.82 percent, according to Pakistan Bureau of Statistics (PBS).

In terms of quantity, Pakistan imported 15,043 metric tons of medicinal products during the period under review as compared to the imports of 15,142 metric tons during corresponding period of last year, showing nominal decrease of 0.65 percent in term of quantity.

Meanwhile, on year-on-year basis, the medicinal imports declined by 0.29 percent in February 2020 when compared to the imports of the same month of last year.

The medicinal imports during February 2020 were recorded at $ 87.020 million against the imports of $ 87.274 million in February 2019.

On month-on-month basis, the medicinal imports however witnessed increase of 15.48 percent during February 2020 when compared to the imports of $75.354 million in January 2019, the PBS data revealed.

It is pertinent to mention here that the country's merchandise trade deficit plunged by 26.06 percent during the first eight months of the current fiscal year (2019-20) as compared to the deficit of the same months of last year.

During the period under review, the country's exports registered about 3.62 per cent growth, whereas imports reduces by 13.81 per cent, according the foreign trade statistics, released by the Pakistan Bureau of Statistics (PBS).

During the period from July-February (2019-20), exports reached to $15.643 billion against the exports of $15.097 billion of the same period of last year, it added.

Meanwhile, the country's imports witnessed significant decrease of 13.81 % as these went down from $36.563 billion in first eight months of last financial year to $31.515 billion of same period of current financial year, it said.

/395

Your Thoughts and Comments