Pakistan’s pharmaceutical exports surge by 31.11% in the first quarter of FY 2024-25.

Pakistan’s pharmaceutical exports have shown a remarkable increase of 31.11% in the first quarter of the current fiscal year 2024-25, according to the latest data from the Pakistan Bureau of Statistics (PBS). Exports reached $105.936 million during July to September 2024, up from $80.796 million in the same period of the previous year.

This substantial growth reflects the industry’s expanding presence in international markets, driven by increased production capacity, quality improvements, and a concerted push for exports. The government has recently implemented several measures to support the pharmaceutical sector, including incentives for research and development, streamlined export procedures, and support in obtaining international certifications.

September 2024 proved to be an exceptionally strong month for the sector, with pharmaceutical exports recording a year-on-year increase of 61.55%. Exports for the month reached $43.607 million, significantly higher than the $26.992 million recorded in September 2023.

Industry analysts attribute this growth to expanding demand in regions like the Middle East, Africa, and Central Asia, where Pakistani pharmaceuticals are gaining traction for their affordability and quality. This growth trend highlights the potential of Pakistan’s pharmaceutical sector to drive economic growth and expand the country’s export base beyond traditional sectors.

The pharmaceutical industry aims to build on this momentum by exploring new markets, increasing export volumes, and enhancing competitiveness. Government officials are optimistic that these rising exports will contribute to economic stability and job creation, solidifying Pakistan’s position as an emerging player in the global pharmaceutical market.