Pharmaceutical Goods Price in the Dominican Republic - 2023
Contents:
- Pharmaceutical Goods Price in the Dominican Republic (FOB) - 2023
- Pharmaceutical Goods Price in the Dominican Republic (CIF) - 2022
- Pharmaceutical Goods Exports in the Dominican Republic
- Pharmaceutical Goods Imports in the Dominican Republic
Pharmaceutical Goods Price in the Dominican Republic (FOB) - 2023
In March 2023, the average pharmaceutical goods export price amounted to $58,777 per ton, increasing by 23% against the previous month. In general, export price indicated a slight increase from March 2022 to March 2023: its price increased at an average monthly rate of +1.8% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on March 2023 figures, pharmaceutical goods export price increased by +23.5% against February 2023 indices. The most prominent rate of growth was recorded in July 2022 an increase of 105% month-to-month. As a result, the export price reached the peak level of $96,757 per ton. From August 2022 to March 2023, the the average export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In March 2023, the country with the highest price was the United States ($73,089 per ton), while the average price for exports to Singapore ($27,804 per ton) was amongst the lowest.
From March 2022 to March 2023, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.
Pharmaceutical Goods Price in the Dominican Republic (CIF) - 2022
In 2022, the average pharmaceutical goods import price amounted to $116,948 per ton, picking up by 72% against the previous year. Overall, the import price, however, faced a dramatic downturn. The import price peaked at $1,532,435 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Panama ($459,682 per ton), while the price for Colombia ($56,493 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (-16.1%), while the prices for the other major suppliers experienced a decline.
Pharmaceutical Goods Exports in the Dominican Republic
In 2022, exports of pharmaceutical goodses from the Dominican Republic was estimated at 7.8K tons, leveling off at 2021 figures. In general, exports, however, recorded a deep slump. The pace of growth was the most pronounced in 2021 with an increase of 4.4%.
In value terms, pharmaceutical goods exports totaled $387M in 2022. Over the period under review, exports, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of 4.5% against the previous year.
| Export of Pharmaceutical Goods in the Dominican Republic (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 327 | 215 | 237 | 255 | -8.0% |
| Netherlands | 40.5 | 52.3 | 40.4 | 38.5 | -1.7% |
| Brazil | 12.5 | 12.4 | 10.2 | 12.9 | 1.1% |
| Singapore | 8.8 | 10.4 | 12.3 | 10.2 | 5.0% |
| China | N/A | 0.1 | 4.9 | 9.2 | 859.2% |
| Italy | 0.9 | 3.7 | 11.4 | 8.3 | 109.7% |
| Colombia | 10.2 | 11.5 | 9.5 | 7.7 | -8.9% |
| Poland | 20.8 | 15.2 | 14.0 | 7.0 | -30.4% |
| Japan | 1.4 | 2.3 | 1.0 | 3.1 | 30.3% |
| Others | 29.8 | 37.4 | 36.0 | 35.0 | 5.5% |
| Total | 452 | 361 | 377 | 387 | -5.0% |
Top Export Markets for Pharmaceutical Goods from the Dominican Republic in 2022:
- United States (4167.3 tons)
- Netherlands (1042.7 tons)
- Brazil (429.0 tons)
- Singapore (425.2 tons)
- Poland (266.1 tons)
- Italy (259.5 tons)
- China (247.9 tons)
- Colombia (187.8 tons)
- Japan (146.2 tons)
Pharmaceutical Goods Imports in the Dominican Republic
After three years of growth, overseas purchases of pharmaceutical goodses decreased by -48.8% to 310 tons in 2022. In general, imports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 226%. As a result, imports attained the peak of 606 tons, and then shrank remarkably in the following year.
In value terms, pharmaceutical goods imports declined to $36M in 2022. Overall, imports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2021 when imports increased by 103%. As a result, imports attained the peak of $41M, and then dropped in the following year.
| Import of Pharmaceutical Goods in the Dominican Republic (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 10.7 | 7.9 | 13.6 | 12.2 | 4.5% |
| China | 0.8 | 0.8 | 4.7 | 4.6 | 79.2% |
| Panama | 4.5 | 4.0 | 6.7 | 3.7 | -6.3% |
| Brazil | 0.8 | 1.2 | 3.4 | 3.5 | 63.6% |
| Germany | 0.3 | 0.8 | 2.5 | 2.9 | 113.0% |
| Japan | 0.3 | 0.3 | 0.4 | 1.7 | 78.3% |
| India | 0.7 | 1.4 | 1.9 | 1.7 | 34.4% |
| Colombia | 0.1 | 0.2 | 0.4 | 0.6 | 81.7% |
| Peru | 0.1 | 0.2 | 0.2 | 0.5 | 71.0% |
| Others | 5.7 | 3.5 | 7.5 | 4.9 | -4.9% |
| Total | 24.0 | 20.3 | 41.3 | 36.3 | 14.8% |
Top Suppliers of Pharmaceutical Goods to the Dominican Republic in 2022:
- United States (163.4 tons)
- India (28.3 tons)
- China (26.9 tons)
- Brazil (18.4 tons)
- Germany (13.8 tons)
- Colombia (10.2 tons)
- Panama (8.0 tons)
- Japan (7.0 tons)
- Peru (4.9 tons)
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