Pharmaceutical Goods Price in Singapore - 2022
Contents:
- Pharmaceutical Goods Price in Singapore (CIF) - 2022
- Pharmaceutical Goods Price in Singapore (FOB) - 2022
- Pharmaceutical Goods Imports in Singapore
- Pharmaceutical Goods Exports in Singapore
Pharmaceutical Goods Price in Singapore (CIF) - 2022
In 2022, the average pharmaceutical goods import price amounted to $235,858 per ton, increasing by 5.3% against the previous year. Overall, the import price, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2018 when the average import price increased by 18% against the previous year. The import price peaked at $697,788 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
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 the United States ($477,898 per ton), while the price for Malaysia ($22,402 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-1.2%), while the prices for the other major suppliers experienced a decline.
Pharmaceutical Goods Price in Singapore (FOB) - 2022
In 2022, the average pharmaceutical goods export price amounted to $224,060 per ton, rising by 26% against the previous year. Over the period under review, the export price, however, continues to indicate a mild reduction. The export price peaked at $255,627 per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($373,227 per ton), while the average price for exports to Myanmar ($14,965 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 Taiwan (Chinese) (+2.9%), while the prices for the other major destinations experienced a decline.
Pharmaceutical Goods Imports in Singapore
After three years of growth, supplies from abroad of pharmaceutical goodses decreased by -14.7% to 1.5K tons in 2022. The total import volume increased at an average annual rate of +1.2% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 17% against the previous year. As a result, imports attained the peak of 1.8K tons, and then fell in the following year.
In value terms, pharmaceutical goods imports contracted to $359M in 2022. The total import value increased at an average annual rate of +1.6% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 18%. As a result, imports reached the peak of $399M, and then declined in the following year.
| Import of Pharmaceutical Goods in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 183 | 191 | 205 | 166 | -3.2% |
| Mexico | 67.8 | 60.3 | 81.5 | 82.9 | 6.9% |
| Germany | 20.5 | 25.4 | 35.4 | 33.4 | 17.7% |
| Japan | 12.1 | 7.0 | 11.0 | 14.6 | 6.5% |
| Switzerland | 15.6 | 16.2 | 16.7 | 12.6 | -6.9% |
| Dominican Republic | 9.7 | 9.7 | 12.7 | 9.0 | -2.5% |
| Denmark | 5.4 | 6.6 | 7.7 | 8.5 | 16.3% |
| China | 4.1 | 3.6 | 6.8 | 5.1 | 7.5% |
| Netherlands | 2.3 | 1.0 | 1.8 | 4.4 | 24.1% |
| Ireland | 0.1 | 0.4 | 0.5 | 2.4 | 188.4% |
| United Kingdom | 1.8 | 1.8 | 1.9 | 2.0 | 3.6% |
| Malaysia | 0.5 | 0.5 | 0.6 | 0.7 | 11.9% |
| Others | 18.9 | 13.8 | 17.0 | 16.5 | -4.4% |
| Total | 342 | 337 | 399 | 359 | 1.6% |
Top Suppliers of Pharmaceutical Goods to Singapore in 2022:
- United States (347.9 tons)
- Mexico (256.0 tons)
- Dominican Republic (180.0 tons)
- Germany (129.1 tons)
- China (108.8 tons)
- Japan (104.8 tons)
- Ireland (72.0 tons)
- Switzerland (51.9 tons)
- United Kingdom (40.7 tons)
- Malaysia (33.3 tons)
- Denmark (26.9 tons)
- Netherlands (23.2 tons)
Pharmaceutical Goods Exports in Singapore
After three years of growth, shipments abroad of pharmaceutical goodses decreased by -39.3% to 975 tons in 2022. Overall, exports showed a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 7.5% against the previous year. As a result, the exports reached the peak of 1.6K tons, and then contracted remarkably in the following year.
In value terms, pharmaceutical goods exports fell markedly to $218M in 2022. In general, exports faced a abrupt slump. The smallest decline of -4% was in 2020.
| Export of Pharmaceutical Goods in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 21.2 | 20.8 | 35.0 | 73.0 | 51.0% |
| China | 171 | 178 | 114 | 26.2 | -46.5% |
| Australia | 26.9 | 21.6 | 24.4 | 18.9 | -11.1% |
| South Korea | 14.7 | 15.0 | 14.3 | 18.9 | 8.7% |
| Thailand | 14.1 | 16.3 | 26.0 | 18.3 | 9.1% |
| Vietnam | 11.0 | 14.3 | 17.8 | 14.9 | 10.6% |
| Malaysia | 11.0 | 10.5 | 9.8 | 9.5 | -4.8% |
| Indonesia | 10.3 | 6.1 | 9.8 | 9.4 | -3.0% |
| Hong Kong SAR | 4.1 | 5.6 | 8.6 | 6.2 | 14.8% |
| Philippines | 5.1 | 5.8 | 4.8 | 4.7 | -2.7% |
| United States | 19.6 | 1.2 | 0.9 | 0.9 | -64.2% |
| Myanmar | 0.6 | 0.4 | 0.3 | 0.4 | -12.6% |
| Others | 12.0 | 13.3 | 19.3 | 17.3 | 13.0% |
| Total | 322 | 309 | 285 | 218 | -12.2% |
Top Export Markets for Pharmaceutical Goods from Singapore in 2022:
- Taiwan (Chinese) (195.5 tons)
- Vietnam (105.0 tons)
- China (99.3 tons)
- Thailand (98.3 tons)
- South Korea (72.0 tons)
- Malaysia (71.7 tons)
- Indonesia (63.1 tons)
- Australia (61.2 tons)
- Hong Kong SAR (45.4 tons)
- Philippines (38.3 tons)
- Myanmar (25.9 tons)
- United States (4.4 tons)
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