Pharmaceutical Goods Price in Australia - 2023
Contents:
- Pharmaceutical Goods Price in Australia (CIF) - 2023
- Pharmaceutical Goods Price in Australia (FOB) - 2022
- Pharmaceutical Goods Imports in Australia
- Pharmaceutical Goods Exports in Australia
Pharmaceutical Goods Price in Australia (CIF) - 2023
In July 2023, the average pharmaceutical goods import price amounted to $101K per ton, reducing by -3.4% against the previous month. In general, the import price, however, showed a mild increase. The growth pace was the most rapid in August 2022 an increase of 903% against the previous month. As a result, import price reached the peak level of $838K per ton. From September 2022 to July 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Japan ($292K per ton), while the price for China ($29,011 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by the United States (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Pharmaceutical Goods Price in Australia (FOB) - 2022
The average pharmaceutical goods export price stood at $34,666 per ton in 2022, falling by -30.4% against the previous year. Over the period under review, the export price continues to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2013 an increase of 62% against the previous year. Over the period under review, the average export prices attained the maximum at $76,439 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($230,181 per ton), while the average price for exports to New Zealand ($21,883 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.
Pharmaceutical Goods Imports in Australia
In 2022, imports of pharmaceutical goodses into Australia soared to 3.9K tons, jumping by 37% compared with the previous year. Overall, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +15.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +75.5% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, pharmaceutical goods imports expanded slightly to $322M in 2022. The total import value increased at an average annual rate of +5.7% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 13% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.
| Import of Pharmaceutical Goods in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 69.2 | 66.1 | 78.3 | 76.4 | 3.4% |
| Germany | 55.9 | 52.8 | 55.5 | 53.2 | -1.6% |
| China | 24.9 | 28.9 | 32.1 | 38.1 | 15.2% |
| United Kingdom | 12.7 | 13.9 | 15.5 | 19.2 | 14.8% |
| Japan | 16.8 | 17.5 | 24.6 | 18.8 | 3.8% |
| Ireland | 10.7 | 9.1 | 11.0 | 14.2 | 9.9% |
| Denmark | 11.0 | 11.6 | 13.0 | 10.9 | -0.3% |
| Hungary | 10.0 | 9.4 | 10.7 | 8.4 | -5.6% |
| Switzerland | 6.3 | 7.9 | 9.5 | 6.9 | 3.1% |
| Israel | 6.8 | 7.6 | 7.3 | 6.4 | -2.0% |
| Others | 48.5 | 55.3 | 58.7 | 69.5 | 12.7% |
| Total | 273 | 280 | 316 | 322 | 5.7% |
Top Suppliers of Pharmaceutical Goods to Australia in 2022:
- China (1263.6 tons)
- Israel (650.1 tons)
- United States (532.5 tons)
- United Kingdom (286.9 tons)
- Germany (234.3 tons)
- Hungary (131.1 tons)
- Ireland (122.9 tons)
- Denmark (119.0 tons)
- Switzerland (73.3 tons)
- Japan (67.5 tons)
Pharmaceutical Goods Exports in Australia
In 2022, approx. 1.5K tons of pharmaceutical goodses were exported from Australia; rising by 143% against the previous year. Overall, exports posted significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, pharmaceutical goods exports surged to $52M in 2022. Over the period under review, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Pharmaceutical Goods in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 4.9 | 3.9 | 9.5 | 25.3 | 72.8% |
| Taiwan (Chinese) | N/A | 0.3 | 0.5 | 2.9 | 210.9% |
| Germany | 1.3 | 1.3 | 2.6 | 2.4 | 22.7% |
| Saudi Arabia | 1.4 | 0.9 | 2.0 | 1.6 | 4.6% |
| Singapore | 2.9 | 2.3 | 1.8 | 1.5 | -19.7% |
| South Africa | 2.4 | 1.8 | 0.9 | 1.0 | -25.3% |
| Malaysia | 0.8 | 0.4 | 0.3 | 0.6 | -9.1% |
| Others | 15.2 | 9.8 | 12.8 | 16.3 | 2.4% |
| Total | 28.9 | 20.7 | 30.4 | 51.5 | 21.2% |
Top Export Markets for Pharmaceutical Goods from Australia in 2022:
- New Zealand (1154.9 tons)
- Singapore (57.1 tons)
- Germany (28.2 tons)
- South Africa (27.7 tons)
- Taiwan (Chinese) (26.5 tons)
- Saudi Arabia (17.2 tons)
- Malaysia (11.4 tons)
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