Pharma exports up 8.6pc in five months

ISLAMABAD: The export of pharmaceutical products during the first five months of the financial year 2019-20 grew by 8.66pc as compared to the corresponding period of last year.

The pharmaceutical exports were recorded at $92.714 million during July-November FY20 as against the exports of $85.323 million during July-November FY19, according to data released by the Pakistan Bureau of Statistics (PBS).

In terms of quantity, the export of pharmaceutical goods increased by 20.84pc during the period under review, from 4,865 metric tonnes to 5,879 metric tonnes.

Meanwhile, on a year-on-year basis, pharmaceutical exports rose by 34.01pc in November 2019 as compared to the same month of last year. Pharma exports in November 2019 were recorded at $19.586 million as against the exports of $14.615 million in November 2018.

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On a month-on-month basis, the export of pharmaceutical products witnessed an increase of 11.85pc in November 2019 when compared to the exports of $17.519 million in October 2019.

It is pertinent to mention that the country’s merchandise trade deficit plunged by 33.04pc during the first five months of the FY20 as compared to the same period of last year.

The trade deficit during 5MFY20 was recorded at $ 9.668 billion as against the deficit of $14.439 billion during 5MFY19.

The exports during the period increased from $9.109 billion to $9.545 billion (+4.79pc), whereas imports declined by 18.41pc, from $23.548 billion to $19.213 billion.

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