Medicinal imports down by over 76pc in 1st FY half

ISLAMABAD:  The country’s medicinal products imports declined by 76.25 percent during the first half of the current fiscal year (2022-23), as compared to the corresponding period of last year. 

As per Pakistan Bureau of Statistics (PBS) figures the country imported medicinal products worth $735.944 million during July-December (2022-23), as compared to $3099.120m imports during July- December (2021-22). 

In terms of quantity, medicinal imports also dipped by 30.34pc, as the country imported 18,889 metric tons of medicinal products during the period under review, as compared to the 27,114 metric tons imports last year. 

Meanwhile, on a year-on-year basis, medicinal products imports during December 2022 decreased by 89.43pc, from $975.631m in December 2021 to $103.143m. On a monthly basis, medicinal product imports during December 2022 also declined by 33.51pc, as compared to the $155.130m imports in November 2022. 

During the first seven months of the current fiscal year, the merchandise trade deficit witnessed a decline of 31.97pc and was recorded at $19,632m this year against the deficit of $28,859m last year. According to the PBS data, the exports from July-January 2022 were recorded at $16,469m against the $17,739m exports in July-January (2021-22), showing a decline of 7.16pc.