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.