Pharmaceutical Exports Rose 8.6% for FY 2018-19: PBS

Pakistan exported pharmaceutical products worth $211.674 million during July-June (2018-19) compared to $194.910 million during July-June (2017-18), showing an increase of 8.6 percent, according to the latest data issued by Pakistan Bureau of Statistics (PBS).

The export of the pharmaceutical products also increased in quantity by 29.27 percent from 10,189 metric tons to 13,171 metric tons, according to the data.

Meanwhile, on a year-on-year basis, the pharmaceutical exports, however, witnessed a decrease of 5.99 percent during the month of June 2019 when compared to June 2018.

Pharmaceutical exports in June 2019 were recorded at $14.061 million against the export of $14.957 million in June 2018.

On a month-on-month basis, the exports of pharmaceutical products also witnessed a decrease 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 merchandise trade deficit decreased by 15.33 percent 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 a deficit of $37.583 billion recorded during July-June (2017-18). The exports during the period under review witnessed a decrease of one percent by falling from $23.212 billion during the last year to $22.979 billion during the ongoing fiscal year.

On the other hand, imports declined by 9.86 percent to $54.799 billion during the period under review from $60.795 billion last year, the data revealed.

On a year-on-year basis, merchandize exports declined by 8.77 percent, 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.