Pharmaceutical Goods Price in Kuwait - 2021

Contents:

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

Pharmaceutical Goods Price in Kuwait (CIF) - 2022

In 2022, the average pharmaceutical goods import price amounted to $100,314 per ton, increasing by 15% against the previous year. Over the period under review, the import price, however, continues to indicate a slight setback. The growth pace was the most rapid in 2018 an increase of 30% against the previous year. The import price peaked at $117,748 per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ireland ($459,942 per ton), while the price for Turkey ($7,179 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Pharmaceutical Goods Price in Kuwait (FOB) - 2022

In 2022, the average pharmaceutical goods export price amounted to $122,518 per ton, dropping by -38.7% against the previous year. Overall, the export price, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by 159%. The export price peaked at $199,918 per ton in 2021, and then fell markedly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was India ($1,605,471 per ton), while the average price for exports to Singapore ($22,348 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 Portugal (+514.4%), while the prices for the other major destinations experienced more modest paces of growth.

Pharmaceutical Goods Imports in Kuwait

In 2022, overseas purchases of pharmaceutical goodses decreased by -14.1% to 408 tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +2.7% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 18%. As a result, imports attained the peak of 475 tons, and then reduced in the following year.

In value terms, pharmaceutical goods imports reduced to $41M in 2022. In general, imports continue to indicate a pronounced contraction. The pace of growth was the most pronounced in 2021 with an increase of 1.8%.

Top Suppliers of Pharmaceutical Goods to Kuwait in 2022:

1. China (64.0 tons)
2. United States (53.1 tons)
3. Turkey (28.6 tons)
4. Netherlands (24.4 tons)
5. Belgium (13.9 tons)
6. Italy (12.5 tons)
7. Portugal (12.1 tons)
8. Ireland (9.4 tons)
9. United Kingdom (6.0 tons)
10. Germany (5.3 tons)
11. Spain (4.5 tons)
12. Switzerland (1.1 tons)

Pharmaceutical Goods Exports in Kuwait

Pharmaceutical goods exports from Kuwait soared to 1.1 tons in 2022, growing by 1,064% compared with the previous year's figure. Over the period under review, exports posted a significant expansion.

In value terms, pharmaceutical goods exports skyrocketed to $140K in 2022. In general, exports recorded a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 1,203%. As a result, the exports attained the peak of $260K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Top Export Markets for Pharmaceutical Goods from Kuwait in 2022:

1. Singapore (488.0 kg)
2. France (188.0 kg)
3. India (34.0 kg)
4. Germany (17.0 kg)
5. Portugal (15.0 kg)

Source: IndexBox Market Intelligence Platform