Chemical, Pharma exports down 25 per cent in May

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LAHORE: According to the latest data released by Pakistan Bureau of Statistics (PBS), total Chemical and Pharmaceuticals exports during the month of May clocked in at $70.170 million, down 25 per cent from April’s exports of $93.259 million.

In comparison, year on year exports in Chemical and Pharma reported a significant gain of more than 68 per cent during the month of May. The total exports during the month of May 2018 against May 2017 grew by $14.626 million.

Chemical and Pharma products exported from Pakistan mainly include Manufactured Fertilizer, Plastic Materials, Pharmaceutical products and other Chemicals.

The major chunk of exports under Chemical and Pharma sector was mainly from the plastic Material which contributed a total of 26.5 per cent of the entire exports. Total Plastic material exported during the month of May 2018 clocked in by $18.597 million grew by 44 per cent from the preceding month.

PBS data reveals the second major component of exports under the Chemical and Pharma Group was mainly in Pharmaceutical products which contributed a total of 21.1 per cent of the entire export earnings. Pharmaceutical products exported during the month of May 2018 clocked in at $14.786 million shrinking from $20.007 million in the same period last year.

Furthermore, month on month exports in Pharmaceutical products went down by 7 per cent during May, 2018 with a year on year decrease by 21 per cent.

Other Chemical exports clocked in at $36.787 million, decrease by 43 per cent on month on month basis with a massive increase of 208 per cent on year on year basis. It constitutes about 52.4 per cent of the export earnings in the chemical and pharma sector.