Medicinal imports rise 11.6pc YoY in July

ISLAMABAD: The import of medicinal products witnessed an increase of 11.60pc in July 2020 as compared to the corresponding period of last fiscal year.

According to data released by the Pakistan Bureau of Statistics (PBS), the country imported medicinal products worth $89.337 million in July 2020 as compared to the imports of $80.048 million in July 2019.

In terms of quantity, Pakistan imported 2,083 metric tonnes of medicinal products during the period under review as compared to the imports of 1,836 metric tonnes during the corresponding period of last year, showing an increase of 13.45pc.

On a month-on-month basis, however, medicinal imports witnessed a decrease of 19.87pc in July 2020, as against the imports of $111.495 million in June 2020.

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It is pertinent to mention that the country’s trade deficit during the first month (July) of the current fiscal year (FY21) dipped by 7.72pc when compared with the corresponding period of last year.

The trade deficit was recorded at $1.686 billion in July FY21, as against the deficit of $1.827 million in July FY20.

During the month under review, exports from the country increased by 6.10pc, from $1.886 billion last year to $2.001 billion, whereas imports dropped by 0.70pc, from $3.713 billion to $3.687 billion.

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