Medicinal imports decrease by 8.77pc during FY2019-20
Pakistan imported medicinal products of worth US $ 997.426 million during July-June (2019-20)
ISLAMABAD (Dunya News) – The imports of medicinal products during the fiscal year (2019-20) witnessed decrease of 8.77 percent as compared to the corresponding period of last fiscal year.
Pakistan imported medicinal products of worth US $ 997.426 million during July-June (2019-20) as compared to the imports of US $1093.367 million during July-June (2018-19), showing negative growth of 8.77 percent, according to Pakistan Bureau of Statistics (PBS).
In terms of quantity, Pakistan imported 21,158 metric tons of medicinal products during the period under review as compared to the imports of 23,279 metric tons during corresponding period of last year, showing decrease of 9.11 percent in term of quantity.
Meanwhile, on year-on-year basis, the medicinal imports however witnessed increased of 31.63 percent during June 2020 as compared to the imports of the same month of last year.
The medicinal imports during June 2020 were recorded at $111.493 million against the imports of $ 84.699 million in June 2019.
On month-on-month basis, the medicinal imports also grew by 103.04 percent during June 2020 when compared to the imports of $54.911 million in May 2020, the PBS data revealed.
It is pertinent to mention here that the country s trade deficit witnessed significant reduction during the fiscal year 2019-20 and declined by 27.12% as compared to the corresponding period of last year.
The exports witnessed decrease of 6.81% and reached to $21.394 billion against the exports of $22.958 billion of the same period of last year.
On the other hand, the country s imports witnessed significant decrease of 18.61% and went down from $54.763 billion last fiscal year to $44.574 billion of same period of fiscal year 2019-20.
Based on the figures, the trade deficit during the period under review was recorded at $23.180 billion against the deficit of $31.805 during last year, showing decline of 27.12 percent.
