Pharmaceutical product exports witnesses 8.66 percent growth

The pharmaceutical product exports witnessed 8.66 percent growth during the first five months of the current fiscal year.

Associated Press of Pakistan reported while quoting  Pakistan Bureau of Statistics (PBS).

The pharmaceutical exports were recorded at $92.714 million during July-November (2019-20)

However, the exports of $85.323 million during July-November (2018-19),

This growth has shown an increase of 8.66 percent.

In terms of quantity, the exports of the pharmaceutical goods increased 20.84 percent from 4,865 metric tons to 5,879 metric ton.

Meanwhile, year-on-year basis the pharmaceutical exports rose 34.01 percent during the month of November 2019.

The pharmaceutical exports in November 2019 recorded at US $19.586 million.

PBS data revealed the exports of US $ 14.615 million recorded in November 2018.

On month-on-month basis, the exports of pharmaceutical products increased 11.85 percent in November 2019

However. when compared to the exports of US $ 17.519 million in October 2019, it witnessed growth.

It is pertinent to mention here that the country’s merchandise trade deficit plunged 33.04 percent.

Trade deficit plunged during the first five 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-November (2019-20) recorded at US $ 9.668 billion against the deficit of US $14.439 billion during July-November (2018-19), the data revealed.

The exports during the period increased from US $ 9.109 billion during last year to US $ 9.545 billion during the current fiscal year, showing growth of 4.79 percent.

On the other hand, the imports into the country witnessed decline of 18.41 percent by falling from US $ 23.548 billion last year to US $19.213 billion during the current fiscal year, the data revealed.