Pharmaceutical Goods Price in Saudi Arabia - 2021

Contents:

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

Pharmaceutical Goods Price in Saudi Arabia (CIF) - 2022

In 2021, the average pharmaceutical goods import price amounted to $117,892 per ton, growing by 29% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.7%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($292,281 per ton), while the price for China ($15,692 per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+15.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Pharmaceutical Goods Price in Saudi Arabia (FOB) - 2022

In 2022, the average pharmaceutical goods export price amounted to $37,273 per ton, with an increase of 23% against the previous year. Overall, the export price, however, recorded a perceptible decline. The growth pace was the most rapid in 2020 an increase of 128%. Over the period under review, the average export prices attained the maximum at $61,823 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($53,432 per ton), while the average price for exports to Bahrain ($9,046 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 Oman (+19.7%), while the prices for the other major destinations experienced more modest paces of growth.

Pharmaceutical Goods Imports in Saudi Arabia

After two years of growth, purchases abroad of pharmaceutical goodses decreased by -6.5% to 1.4K tons in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 7.9%. As a result, imports reached the peak of 1.5K tons, and then shrank in the following year.

In value terms, pharmaceutical goods imports skyrocketed to $167M in 2021. The total import value increased at an average annual rate of +13.8% from 2019 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Pharmaceutical Goods to Saudi Arabia in 2022:

1. Germany (182.6 tons)
2. United States (178.4 tons)
3. Ireland (133.9 tons)
4. Italy (107.2 tons)
5. Netherlands (90.5 tons)
6. France (89.9 tons)
7. Switzerland (76.5 tons)
8. China (60.6 tons)
9. Dominica (45.4 tons)
10. South Korea (31.0 tons)

Pharmaceutical Goods Exports in Saudi Arabia

Pharmaceutical goods exports from Saudi Arabia contracted to 36 tons in 2022, with a decrease of -13.9% against 2021. Overall, total exports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +8.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +49.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 73%. As a result, the exports reached the peak of 42 tons, and then fell in the following year.

In value terms, pharmaceutical goods exports rose rapidly to $1.3M in 2022. Over the period under review, total exports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +23.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -5.5% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 98% against the previous year. As a result, the exports attained the peak of $1.4M. From 2021 to 2022, the growth of the exports failed to regain momentum.

Top Export Markets for Pharmaceutical Goods from Saudi Arabia in 2022:

1. Netherlands (24.0 tons)
2. Bahrain (4.4 tons)
3. South Africa (1.3 tons)
4. Spain (1.0 tons)
5. South Korea (0.9 tons)
6. Turkey (0.8 tons)

Source: IndexBox Market Intelligence Platform