ISLAMABAD: The import of medicinal products into the country during the first seven months of the financial year 2019-20 dipped by 9.95pc as compared to the corresponding period of last year.
Pakistan imported medicinal products worth $590.783 million during July-January 2019-20, as compared to the imports of $656.080 million during the same period of last year, according to data released by the Pakistan Bureau of Statistics (PBS).
In terms of quantity, Pakistan imported 13,195 metric tonnes of medicinal products during the period under review as compared to the imports of 13,590 metric tonnes last year, showing a decrease of 2.91pc.
Meanwhile, on a year-on-year basis, medicinal imports declined by 8.22pc in January 2020 when compared with the imports of the same month of last year. Medicinal imports during January 2020 were recorded at $73.354 million against the imports of $82.105 million in January 2019.
On a month-on-month basis, medicinal imports registered a decline of 14.06pc in January 2020 when compared with the imports of $87.683 million in December 2019.
It is pertinent to mention that the country’s merchandise trade deficit plunged by 28.40pc during the first seven months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.
During the period under review, the country’s exports registered about 2.14pc growth, whereas imports reduced by 15.95pc.
