ISLAMABAD-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 $26.205 million during July 2023 against the exports of $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 tonnes to 5,125 metric tonnes, 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 $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 $2,068 million against the exports of $2,250 million in last July. The imports also declined by 25.62 percent to $3,705 million in July 2023 compared to the exports of $4,981 million in July 2022. Based on the figures, the merchandise trade deficit declined by 40.06 percent by going down from a deficit of $2.371 million last July to $1.637 million in July 2023, according to PBS data.
PAKISTAN EXPORTS FOOD PRODUCTS WORTH $329M IN JULY
Pakistan exported food products worth $329.156 million during the first month of current fiscal year (July), Pakistan Bureau of Statistics (PBS) reported. As compared to the exports of $356.073 million during July 2022, the exports in July 2023 depicted decline of 7.56 percent, according to latest PBS data. On month-on-month basis, the exports during July 2023 decreased by 8.81 percent compared to the exports of $360.961 million in June 2023. The food products that contributed in the negative growth of trade included rice, the exports of which declined by 15.78 percent, from $360.961 million last July to $117.101 million in July 2023. Likewise, the exports of vegetables declined by 67.20 percent by going down from $44.396 million last year to $14.564 million this year and tobacco the exports of which decrease by 58.35 percent, from $4.917 million to $2.048 million. The food items that witnessed positive growth included fish and fish preparations, the exports of which increased by 2.2 percent by going up from $18.572 million to $18.980 million, whereas the exports of fruits increased by 4.61 percent, from $34.171 million to $35.746 million.