Pharmaceutical exports increase 20.11pc in July 2020

ISLAMABAD: The exports of pharmaceutical products from the country witnessed increase of 20.11 percent during the first month of current financial year (2020-21) as compared to the corresponding period of last fiscal year.

Pakistan exported pharmaceutical products worth US $24.526 million during July 2020 as against the exports of US $20.419 million during July 2019, showing growth of 20.11 percent, according to the Pakistan Bureau of Statistics (PBS).

In term of quantity, the pharmaceutical exports rose by 31.24 percent, by going up from 1,181 metric tons to 1,550 metric tons during the period under review.

On month-on-month basis, the exports of pharmaceutical products also grew by 38.13 percent during July 2020, when compared to the exports of US $ 17.756 million during June 2020, the data said.

It is pertinent to mention here that the trade deficit during the first month of the current fiscal year was dipped by 7.72 percent as compared to the corresponding period of last year.

The trade deficit during July 2020 was recorded at US $ 1.686 billion against the deficit of US $ 1.827 million in July 2019, the data revealed.

During the month under review, the exports from the country increased by 6.10 percent, from US $ 1.886 billion last year to US $ 2.001 billion during the current year.

On the other hand, the imports witnessed negative growth of 0.70 percent by falling from US $ 3.713 billion last year to US $ 3.687 billion this year.