Pharmaceutical Exports Increase Over 8pc To $36 Mln

Faizan Hashmi Published October 08, 2019 | 06:48 PM

The exports of pharmaceutical product from the country during the first two months of current financial year (2019-20) increased by 8.21 percent as compared to the corresponding period of last year

ISLAMABAD, (UrduPoint / Pakistan Point News - 8th Oct, 2019 ) :The exports of pharmaceutical product from the country during the first two months of current financial year (2019-20) increased by 8.21 percent as compared to the corresponding period of last year.

Pakistan exported pharmaceutical products worth $36.500 million during July-August (2019-20) as against the export of $33.731 million during July-August (2018-19), showing increase of 8.21 percent, according to the latest data issued by Pakistan Bureau of Statistics (PBS).

In terms of quantity, the export of the pharmaceutical products also increased by 25.13 percent from 1,890 metric tons to 2,365 metric tons, according to the data.

Meanwhile, on year-on-year basis, the pharmaceutical exports, however witnessed decrease of 5.36 percent during the month of August 2019 when compared to the same month of last year.

The pharmaceutical exports in August 2019 were recorded at $16.176 million against the exports of $17.

092 million in August 2018, the BPS data revealed.

On month-on-month basis, the exports of pharmaceutical products also witnessed decline of 20.41 percent in August 2019 when compared to the exports of $20.324 million in July 2019.

It is pertinent to mention here that the trade deficit during first two months of the current fiscal year dipped by 35.86 percent as compared to the corresponding period of last year.

The trade deficit during July-August (2019-20) was recorded at US $ 3.924 billion against the deficit of US $ 6.118 million in July-August (2018-19), the data revealed.

During the period under review, the exports from the country increased by 2.79 percent, from US $ 3.651 billion last year to US $ 3.753 billion during the current year.

On the other hand, the imports witnessed negative growth of 21.41 percent by falling from US $ 9.769 billion last year to US $ 7.677 billion this year.