Pharmaceutical Goods Price in New Zealand - 2023
Contents:
- Pharmaceutical Goods Price in New Zealand (CIF) - 2023
- Pharmaceutical Goods Price in New Zealand (FOB) - 2023
- Pharmaceutical Goods Imports in New Zealand
- Pharmaceutical Goods Exports in New Zealand
Pharmaceutical Goods Price in New Zealand (CIF) - 2023
The average pharmaceutical goods import price stood at $92,617 per ton in July 2023, rising by 11% against the previous month. In general, the import price, however, recorded a noticeable decrease. The pace of growth appeared the most rapid in January 2023 when the average import price increased by 316% m-o-m. Over the period under review, average import prices hit record highs at $415K per ton in September 2022; however, from October 2022 to July 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Germany ($248K per ton), while the price for China ($19,209 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 Australia (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Pharmaceutical Goods Price in New Zealand (FOB) - 2023
The average pharmaceutical goods export price stood at $226K per ton in July 2023, waning by -20.3% against the previous month. Overall, the export price showed a slight setback. The most prominent rate of growth was recorded in February 2023 an increase of 275% month-to-month. Over the period under review, the average export prices reached the maximum at $291K per ton in August 2022; however, from September 2022 to July 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Brazil ($369K per ton), while the average price for exports to Niue ($24,384 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Papua New Guinea (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.
Pharmaceutical Goods Imports in New Zealand
In 2022, pharmaceutical goods imports into New Zealand skyrocketed to 520 tons, with an increase of 21% compared with the previous year. The total import volume increased at an average annual rate of +2.5% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, pharmaceutical goods imports dropped modestly to $51M in 2022. The total import value increased at an average annual rate of +1.4% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 15% against the previous year. As a result, imports reached the peak of $53M, and then dropped in the following year.
| Import of Pharmaceutical Goods in New Zealand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 11.7 | 10.1 | 12.1 | 11.0 | -2.0% |
| Germany | 4.2 | 4.0 | 5.2 | 5.2 | 7.4% |
| Australia | 1.6 | 1.0 | 2.6 | 4.9 | 45.2% |
| China | 4.6 | 4.1 | 5.3 | 4.8 | 1.4% |
| Ireland | 3.6 | 4.1 | 3.8 | 4.1 | 4.4% |
| Mexico | 3.3 | 3.7 | 4.5 | 3.6 | 2.9% |
| United Kingdom | 2.3 | 2.6 | 2.4 | 3.3 | 12.8% |
| Finland | 4.9 | 3.0 | 3.4 | 2.1 | -24.6% |
| Hungary | 1.8 | 2.0 | 2.0 | 1.6 | -3.9% |
| Denmark | 1.3 | 1.8 | 1.6 | 1.5 | 4.9% |
| Dominican Republic | 0.9 | 0.7 | 0.7 | 1.0 | 3.6% |
| South Korea | 0.3 | 0.2 | 0.4 | 0.3 | 0.0% |
| Japan | 3.3 | 2.9 | 2.2 | 0.2 | -60.7% |
| Others | 5.3 | 5.5 | 6.4 | 7.4 | 11.8% |
| Total | 48.8 | 45.6 | 52.6 | 50.9 | 1.4% |
Top Suppliers of Pharmaceutical Goods to New Zealand in 2022:
- China (138.4 tons)
- United States (74.2 tons)
- Australia (68.3 tons)
- United Kingdom (38.7 tons)
- Ireland (38.7 tons)
- Germany (23.0 tons)
- Hungary (22.4 tons)
- Denmark (21.0 tons)
- Dominican Republic (10.1 tons)
- Mexico (9.7 tons)
- Finland (9.6 tons)
- South Korea (7.0 tons)
- Japan (0.9 tons)
Pharmaceutical Goods Exports in New Zealand
Pharmaceutical goods exports from New Zealand skyrocketed to 65 tons in 2022, jumping by 114% compared with 2021 figures. Over the period under review, exports enjoyed a prominent increase. 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 $5.7M in 2022. Overall, exports recorded 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 New Zealand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 116 | N/A | 0.9 | 3,086 | 198.5% |
| Australia | 467 | 353 | 547 | 1,492 | 47.3% |
| Fiji | 465 | 997 | 517 | 418 | -3.5% |
| Singapore | 432 | 275 | 392 | 181 | -25.2% |
| Samoa | 13.0 | 20.8 | 30.2 | 119 | 109.2% |
| Cook Islands | 17.4 | 43.2 | 25.0 | 54.9 | 46.7% |
| Papua New Guinea | 26.4 | 7.8 | 11.8 | 30.6 | 5.0% |
| French Polynesia | 242 | 8.7 | 17.1 | 29.9 | -50.2% |
| Hong Kong SAR | N/A | 7.2 | 24.6 | 22.0 | 74.8% |
| Others | 389 | 161 | 243 | 257 | -12.9% |
| Total | 2,167 | 1,874 | 1,808 | 5,691 | 38.0% |
Top Export Markets for Pharmaceutical Goods from New Zealand in 2022:
- Australia (24.7 tons)
- United States (23.5 tons)
- Fiji (2.8 tons)
- Singapore (2.7 tons)
- Samoa (2.1 tons)
- Cook Islands (1.6 tons)
- Hong Kong SAR (1.0 tons)
- Papua New Guinea (1.0 tons)
- French Polynesia (0.5 tons)
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