Ahmed Mukhtar Naqshbandi
ISLAMABAD: The import of medicinal products fell by 76.25 percent during the first half of the current fiscal year (2022-23) compared to the same period last year.
As per Pakistan Bureau of Statistics (PBS), Pakistan imported $735.944 million in medicinal products from July to December (2022-23), compared to $3099.120 million in July-December (2021-22).
Medicinal imports
In terms of quantity, medicinal imports fell by 30.34 percent, with the country importing 18,889 metric
tonnes of medicinal products during the review period, compared to 27,114 metric tonnes the previous year.
Meanwhile, year-on-year, medicinal product imports in December 2022 fell by 89.43 percent, from $975.631 million in December 2021 to $103.143 million.
Monthly, medicinal product imports fell by 33.51 percent in December 2022, compared to $155.130 million in November 2022.
It is important to note that the merchandise trade deficit decreased by 31.97 percent during the first seven months of the current fiscal year, falling to $19,632 million this year from $ 28,859 million the previous year.
According to PBS data, exports from July to January 2022 added to $16,469 million, a 7.16 percent decrease from the previous year’s exports of $17,739 million.
On the other hand, the country’s imports fell by 22.53 percent during the review period, from $ 46,598 million last year to $ 36,101 million this year.
