Daily Times

The export of Pharmaceutical goods witnessed an increase of 8.87 percent during the first month of the current financial year (2023-24), against the exports of the corresponding period of last year. The country exported pharmaceutical goods worth US $26.205 million during July 2023 against the exports of US $24.069 million during July 2022, showing growth of 8.87 percent, according to the Pakistan Bureau of Statistics (PBS). In terms of quantity, the pharmaceutical goods export also rose by 144.27 percent from 2,098 metric tons to 5,125 metric tons, the data revealed. Meanwhile, on a month-on-month basis, pharmaceutical exports went up by 19.58 percent during July 2023 as compared to the exports of US $21.914 million in June 2023, the PBS data revealed. It is pertinent to mention here that the country’s overall merchandise export declined by 8.09 percent in July 2023 as compared to the export of July 2022. The exports during the month were recorded at US$2,068 million against the exports of US$2,250 million in last July. The imports also declined by 25.62 percent to US$3,705 million in July 2023 compared to the exports of US$4,981 million in July 2022. Based on the figures, the merchandize trade deficit declined by 40.06 percent by going down from a deficit of US$2.371 million last July to US$ 1.637 million in July 2023, according to PBS data.