The exports of pharmaceutical products from Pakistan have seen an increase of 24.76 per cent during the first nine months of financial year (2020-21) as compared to the exports recorded during the same time period last year, according to the data shared by Pakistan Bureau of Statistics (PBS).
As per details, the pharma exports were registered at US $207.304 million during July-March (2020-21), compared to the export of US $166.157 million during July-March (2019-20). This shows a growth of 24.76 per cent.
The exports are witnessed an increase in terms of quantity, as they surged by 55.56 per cent by going up from 12,135 metric tons to 18,877 metric tons, according to PBS data.
Meanwhile, on year-on-year basis, the pharmaceutical goods export increased by 37.38 per cent during the month of March 2021 as compared to the same month of last year. The exports in March 2021 were recorded at US $22.823 million against the export of $16.613 million in March 2020, the PBS data revealed.
On the other hand, based on month-on-month data, the exports witnessed nominal increase of 0.05 per cent in March 2021 when compared to $22.811 million in February 2021.
Pakistan’s trade deficit also saw an increase of 20.08 per cent during the nine months of financial year 2020-21, compared to the corresponding period of last year.
As per that data, the exports witnessed increase of 7.14 per cent and reached to $18.688 billion against the exports of $17.443 billion of the same period of last year.
The country’s imports also increased by 13.59 per cent and increased from $34.791 billion in last fiscal year to $39.519 billion of same period of fiscal year 2020-21.
Based on the figures, the trade deficit during the period under review was recorded at $20.831 billion against the deficit of $17.348 billion during last year, showing increase of 20.08 per cent.
From : pk.mashable.com