ISLAMABAD                    -                   The export of pharmaceutical goods from the country witnessed an increase of 4.09 per cent during the first nine months of current financial year (2019-20) as compared to the export of corresponding period of last year.

The pharmaceutical exports were recorded at $166.156 million during July-March (2019-20) as against the export of $159.633 million during July-March (2018-19), showing growth of 4.09 per cent, according to the Pakistan Bureau of Statistics (PBS).

In term of quantity, the export of pharmaceutical products also increased by 9.35 per cent by going up from 10,016 metric tonnes to 10,952 metric tonnes, according to the data. Meanwhile, on year- on- year basis, the pharmaceutical export however witnessed decrease of 17.55 per cent during the month of March 2020 as compared to the same month of last year. The pharmaceutical exports in March 2020 were recorded at $16.611 million against the export of $20.146 million in March 2019, the PBS data revealed.

On month-on- month basis, the exports of pharmaceutical products also declined by 18.18 per cent in March 2020 when compared to $20.303 million in February 2019. It is pertinent to mention here that the country’s trade deficit witnessed significant reduction in first three quarters of current financial year and declined by 26.45 per cent as compared to the corresponding period of last year.

During the period under review country’s exports registered about 2.23 per cent growth, whereas imports reduced by 14.42 per cent.

The exports witnessed an increase of 2.23 per cent and reached to $17.451 billion against the exports of $17.071 billion of the same period of last year.

On the other hand, the country’s imports witnessed significant decrease of 14.42 per cent and went down from $40.679 billion last financial year to $34.814 billion of same period of current financial year.

Based on the figures, the trade deficit during the period under review was recorded at $17.363 billion against the deficit of $23.608 during last year, showing decline of 26.45 per cent.