ISLAMABAD: The exports of pharmaceutical product from the country during the financial year (2018-19) grew by 8.6 percent as compared to the corresponding period of last year.
Pakistan exported pharmaceutical product of worth $211.674 million during July-June (2018-19) as against the export of $ 194.910 million during July-June (2017-18), showing raise of 8.6 percent, according to the latest data issued by Pakistan Bureau of Statistics (PBS).
In terms of quantity, the export of the pharmaceutical products also increased by 29.27 percent from 10,189 metric ton to 13,171 metric ton, according to the data.
Meanwhile, on year-on-year basis, the pharmaceutical exports, however witnessed decrease of 5.99 percent during the month of June 2019 when compared to the same month of last year.
The pharmaceutical exports in June 2019 were recorded at $14.061 million against the export of $14.957 million in June 2018, the BPS data revealed.
On month-on-month basis, the exports of pharmaceutical products also witnessed decreased of 21.15 percent in June 2019 when compared to the exports of $17.832 million in May 2019.
It is pertinent to mention here that the country's merchandize trade deficit plunged by 15.33 per cent during the fiscal year 2018-19 compared to the corresponding period of last year.
The trade deficit contracted to $31.820 billion during July-June (2018-19) against the deficit of $37.583 billion recorded during July-June (2017-18). The exports during the period under review witnessed decrease of one per cent by falling from $23.212 billion during last year to $22.979 billion during the ongoing fiscal year.
On the other hand, the imports declined by 9.86 per cent to $54.799 billion during the period under review from $60.795 billion last year, the data revealed.
On year-on-year basis, the merchandize exports declined by 8.77 per cent, from $1.882 billion in June 2018 to $1.717 billion in June 2019 while the imports declined by 22.80 percent from $5.652 billion in June 2018 to $4.364 billion in June 2019, the data revealed.