Pharmaceutical Goods Price in Libya - 2022

Pharmaceutical Goods Price in Libya (CIF) - 2022

In 2022, the average pharmaceutical goods import price amounted to $26,775 per ton, picking up by 4.7% against the previous year. Overall, the import price, however, showed a deep setback. The most prominent rate of growth was recorded in 2016 an increase of 32%. Over the period under review, average import prices hit record highs at $60,208 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Ireland ($301,063 per ton), while the price for China ($3,308 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+21.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Pharmaceutical Goods Price in Libya (FOB) - 2022

The average pharmaceutical goods export price stood at $73,931 per ton in 2022, growing by 1.6% against the previous year. Over the period under review, the export price, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2018 an increase of 2.3%. Over the period under review, the average export prices hit record highs at $197,800 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 South Korea ($169,360 per ton), while the average price for exports to Turkey totaled $63,779 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malta (+90.5%).

Pharmaceutical Goods Imports in Libya

In 2022, the amount of pharmaceutical goodses imported into Libya fell slightly to 271 tons, almost unchanged from the previous year's figure. In general, imports faced a abrupt slump. The most prominent rate of growth was recorded in 2021 when imports increased by 3.4% against the previous year.

In value terms, pharmaceutical goods imports expanded to $7.3M in 2022. Overall, imports saw a sharp contraction.

Import of Pharmaceutical Goods in Libya (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	1,197	622	1,132	1,421	5.9%
United Kingdom	7,273	908	418	896	-50.2%
South Korea	547	448	737	570	1.4%
Hungary	554	491	446	464	-5.7%
Italy	345	382	843	416	6.4%
Turkey	610	472	423	414	-12.1%
China	288	325	203	164	-17.1%
Portugal	260	67.5	129	136	-19.4%
Norway	70.2	69.3	70.9	83.2	5.8%
Belgium	1,292	174	245	39.3	-68.8%
Others	3,883	3,515	2,381	2,647	-12.0%
Total	16,319	7,474	7,029	7,252	-23.7%

Top Suppliers of Pharmaceutical Goods to Libya in 2022:

China (49.7 tons)
Germany (46.6 tons)
Portugal (33.0 tons)
Turkey (30.7 tons)
United Kingdom (22.7 tons)
Italy (20.3 tons)
Hungary (14.6 tons)
South Korea (11.9 tons)
Norway (7.5 tons)
Belgium (1.1 tons)

Pharmaceutical Goods Exports in Libya

In 2022, after two years of growth, there was decline in overseas shipments of pharmaceutical goodses, when their volume decreased by -4.1% to 260 kg. The total export volume increased at an average annual rate of +2.0% over the period from 2020 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of 8.4% against the previous year. As a result, the exports reached the peak of 271 kg, and then reduced in the following year.

In value terms, pharmaceutical goods exports contracted to $19K in 2022. The total export value increased at an average annual rate of +1.3% over the period from 2020 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 5.3% against the previous year. As a result, the exports reached the peak of $20K, and then contracted in the following year.