Pharmaceutical Goods Price in Guatemala - 2023

Contents:

1. Pharmaceutical Goods Price in Guatemala (CIF) - 2022
2. Pharmaceutical Goods Price in Guatemala (FOB) - 2023
3. Pharmaceutical Goods Imports in Guatemala
4. Pharmaceutical Goods Exports in Guatemala

Pharmaceutical Goods Price in Guatemala (CIF) - 2022

In 2022, the average pharmaceutical goods import price amounted to $56,426 per ton, dropping by -4.2% against the previous year. In general, the import price, however, posted prominent growth. The most prominent rate of growth was recorded in 2019 when the average import price increased by 52%. Over the period under review, average import prices reached the maximum at $58,876 per ton in 2021, and then dropped modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($152,290 per ton), while the price for Malaysia ($13,913 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+68.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Pharmaceutical Goods Price in Guatemala (FOB) - 2023

The average pharmaceutical goods export price stood at $38,388 per ton in October 2023, waning by -51.1% against the previous month. Over the period under review, the export price continues to indicate a perceptible descent. The most prominent rate of growth was recorded in March 2023 an increase of 322% month-to-month. The export price peaked at $129K per ton in June 2023; however, from July 2023 to October 2023, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was Costa Rica ($316K per ton), while the average price for exports to El Salvador ($11,111 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+3.1%), while the prices for the other major destinations experienced a decline.

Pharmaceutical Goods Imports in Guatemala

In 2022, approx. 413 tons of pharmaceutical goodses were imported into Guatemala; increasing by 19% against the year before. The total import volume increased at an average annual rate of +9.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 22%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, pharmaceutical goods imports totaled $23M in 2022. Over the period under review, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +11.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 32% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Pharmaceutical Goods to Guatemala in 2022:

1. Germany (85.4 tons)
2. China (75.4 tons)
3. India (60.6 tons)
4. United States (30.0 tons)
5. El Salvador (23.7 tons)
6. South Korea (18.3 tons)
7. Brazil (13.8 tons)
8. Costa Rica (13.1 tons)
9. Spain (9.2 tons)
10. Belgium (9.0 tons)
11. Mexico (6.7 tons)
12. Malaysia (6.2 tons)
13. Panama (1.4 tons)

Pharmaceutical Goods Exports in Guatemala

For the fourth consecutive year, Guatemala recorded growth in shipments abroad of pharmaceutical goodses, which increased by 14% to 46 tons in 2022. In general, exports saw significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 94% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, pharmaceutical goods exports contracted notably to $2.5M in 2022. Over the period under review, exports posted a significant increase. The growth pace was the most rapid in 2021 with an increase of 236% against the previous year. As a result, the exports reached the peak of $3.9M, and then reduced rapidly in the following year.

Top Export Markets for Pharmaceutical Goods from Guatemala in 2022:

1. El Salvador (30.3 tons)
2. Honduras (7.4 tons)
3. Nicaragua (6.7 tons)
4. Costa Rica (1.6 tons)

Source: IndexBox Market Intelligence Platform