Observer Report
Islamabad
The imports of medicinal products during the fiscal year 2019-20 witnessed decrease of 8.77 percent as compared to the corresponding period of last fiscal year.
Pakistan imported medicinal products of worth US $ 997.426 million during July-June 2019-20 as compared to the imports of US $1093.367 million during July-June 2018-19, showing negative growth of 8.77 percent, according to Pakistan Bureau of Statistics. In terms of quantity, Pakistan imported 21,158 metric tons of medicinal products during the period under review as compared to the imports of 23,279 metric tons during corresponding period of last year, showing decrease of 9.11 percent in term of quantity.
Meanwhile, on year-on-year basis, the medicinal imports however witnessed increased of 31.63 percent during June 2020 as compared to the imports of the same month of last year.
The medicinal imports during June 2020 were recorded at $ 111.493 million against the imports of $ 84.699 million in June 2019. On month-on-month basis, the medicinal imports also grew by 103.04 percent during June 2020 when compared to the imports of $54.911 million in May 2020, the PBS data revealed.
It is pertinent to mention here that the country’s trade deficit witnessed significant reduction during the fiscal year 2019-20 and declined by 27.12% as compared to the corresponding period of last year.
