ISLAMABAD: The exports of pharmaceutical product during the first quarter of financial year (2019-20) grew by 12.35 percent as compared to the exports of corresponding period of last year.
The pharmaceutical exports were recorded at $55.481 million during July-September (2019-20) as against the exports of $49.383 million during July-September (2018-19), showing an increase of 12.35 percent, according to the Pakistan Bureau of Statistics (PBS).
In terms of quantity, the exports of the pharmaceutical goods increased by 22.42 percent from 2,792 metric tons to 3,418 metric ton, according to the data.
Meanwhile, year-on-year basis the pharmaceutical exports rose by 16.35 percent during the month of September 2019 as compared to the same month of last year.
The pharmaceutical exports in September 2019 were recorded at $ 18.210 million against the exports of $15.651 million in September 2018, the PBS data revealed.
On month-on-month basis, the exports of pharmaceutical products also increased by 7.45 percent in September 2019 when compared to the exports of $16.947 million in August 2019.
It is pertinent to mention here that the country’s merchandise trade deficit plunged by 34.85 percent during the first three months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.
The trade deficit during July-September (2019-20) was recorded at $5.727 billion against the deficit of $8.791 billion during July-September (2018-19).
The exports increased from $5.374 billion during last year to $5.522 billion during the current fiscal year, showing growth of 2.75 percent.
On the other hand, the imports into the country witnessed a decline of 20.6 percent by falling from $14.165 billion last year to $11.249 billion during the current fiscal year, the data revealed.