ISLAMABAD: The export of Pharmaceutical goods increased by 8.87 percent during the first month of the current financial year (2023-24) compared to the corresponding period of the previous year.
According to the Pakistan Bureau of Statistics (PBS), the country exported pharmaceutical products worth US $26.205 million in July 2023 compared to US $24.069 million in July 2022, showing a rise of 8.87 percent.
The data showed that the export of pharmaceutical goods increased in volume by 144.27 percent, from 2,098 metric tonnes to 5,125 metric tonnes. According to the PBS data, pharmaceutical exports increased by 19.58 percent in July 2023 compared to the $21.914 million in exports in June 2023.
It is important to note that, compared to July 2022, the country’s overall merchandise exports decreased by 8.09 percent. Compared to the exports of US$2,250 million in July last year, the monthly exports totaled US$2,068 million.
In addition, compared to exports of US$4,981 million in July 2022, imports fell by 25.62 percent to US$3,705 million in July 2023. According to the data, the merchandise trade deficit decreased by 40.06 percent, from US$2.371 million in July 2018 to US$1.637 million in July 2023. —APP
