The pharmaceutical exports in March 2021 were recorded at US $22.823 million

ISLAMABAD (Dunya News) – The exports of Pharmaceutical products from the country witnessed an increase of 24.76 percent during the nine months of financial year (2020-21) as compared to the exports of corresponding period of last year.

The pharmaceutical exports were recorded at US $207.304 million during July-March (2020-21) as against the export of US $166.157 million during July-March (2019-20), showing growth of 24.76 percent, according to the Pakistan Bureau of Statistics (PBS).

In terms of quantity, the exports of pharmaceutical products also increased by 55.56 percent by going up from 12,135 metric tons to 18,877 metric tons, according to the data.

Meanwhile, year- on- year basis the pharmaceutical goods export increased by 37.38 percent during the month of March 2021 as compared to the same month of last year.

The pharmaceutical 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 month- on- month basis, the exports of pharmaceutical witnessed nominal increase of 0.05 percent in March 2021 when compared to $22.811 million in February 2021.

It is pertinent to mention here that the country s trade deficit witnessed an increase of 20.08 percent during the nine months of financial year 2020-21as compared to the corresponding period of last year.

The exports witnessed increase of 7.14 percent and reached to $18.688 billion against the exports of $17.443 billion of the same period of last year.

On the other hand, the country s imports also rose by 13.59 percent and went up from $34.791 billion 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 percent.