Pharma exports increase 12.3pc in first quarter

ISLAMABAD: The export of pharmaceutical products during the first quarter of the ongoing financial year (FY20) grew by 12.35pc when compared with the corresponding period of last year.

The pharmaceutical exports were recorded at $55.481 million during July-September FY20 as against the exports of $49.383 million during July-September FY19, according to the Pakistan Bureau of Statistics (PBS).

In terms of quantity, the export of pharmaceutical goods increased by 22.42pc, from 2,792 metric tonnes to 3,418 metric tonnes.

Meanwhile, on a year-on-year basis, pharmaceutical exports rose by 16.35pc during the month of September 2019 as compared to the same month of last year. Pharmaceutical exports in September 2019 were recorded at $18.210 million against the exports of $15.651 million in September 2018.

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On a month-on-month basis, the exports of pharmaceutical products increased by 7.45pc in September 2019 when compared with the exports of $16.947 million in August 2019.

It is pertinent to mention that the country’s merchandise trade deficit plunged by 34.85pc during the first three months of FY20 as compared to the same period last year.

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