11MFY20: Medicinal imports drop 12pc to 886m

Pakistan imported $55m worth of medicinal products in May 2020, as against the imports of $74.3m in April

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ISLAMABAD: The imports of medicinal products during the first 11 months of the fiscal year 2019-20 witnessed a decrease of 12.17pc, as compared to the corresponding period of last fiscal year.

Pakistan imported medicinal products worth $885.933 million during July-May FY20 as compared to the imports of $1,008.668 million during July-May FY19, according to data issued by the Pakistan Bureau of Statistics (PBS).

In terms of quantity, Pakistan imported 19,257 metric tonnes of medicinal products during the period under review as compared to the imports of 21,153 metric tonnes during the corresponding period of last year, showing a decrease of 8.96pc.

Meanwhile, on a year-on-year basis, medicinal imports declined by 30.77pc during May 2020, as compared to the same month of last year.

Medicinal imports during May 2020 were recorded at $54.911 million, as against the imports of $79.316 million in May 2019.

On a month-on-month basis, medicinal imports dropped by 26.12pc in May 2020 when compared with the imports of $74.326 million in April 2020.

It is pertinent to mention that the country’s trade deficit witnessed a significant reduction of 27.75pc during the first 11 months of FY20, as compared to the corresponding period of last year.

Exports witnessed a decrease of 6.85pc to $19.801 billion, as against the exports of $21.256 billion last year. On the other hand, the country’s imports witnessed a significant reduction of 18.93pc, from $50.410 billion last year to $40.866 billion during the period under review.

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