Pharmaceutical Goods Price in Turkey - 2023

Pharmaceutical Goods Price in Turkey (CIF) - 2023

The average pharmaceutical goods import price stood at $86,992 per ton in July 2023, falling by -29.4% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 an increase of 29% month-to-month. Over the period under review, average import prices hit record highs at $137K per ton in May 2023; however, from June 2023 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 Japan ($454K per ton), while the price for Slovakia ($21,399 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 France (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Pharmaceutical Goods Price in Turkey (FOB) - 2022

The average pharmaceutical goods export price stood at $7,045 per ton in 2022, surging by 3.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The pace of growth appeared the most rapid in 2017 an increase of 24%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

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 Germany ($9,482 per ton), while the average price for exports to Italy ($1,254 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 the United Arab Emirates (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Pharmaceutical Goods Imports in Turkey

In 2022, purchases abroad of pharmaceutical goodses was finally on the rise to reach 1.4K tons after two years of decline. In general, imports, however, recorded a perceptible decline.

In value terms, pharmaceutical goods imports expanded remarkably to $124M in 2022. Overall, imports, however, recorded a relatively flat trend pattern.

Import of Pharmaceutical Goods in Turkey (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	44.7	29.6	40.0	44.3	-0.3%
United States	11.0	10.8	12.3	13.5	7.1%
South Korea	3.3	3.9	5.2	6.7	26.6%
France	8.0	9.5	9.1	5.2	-13.4%
India	1.0	1.1	2.2	5.1	72.1%
Hungary	3.6	3.8	4.0	4.4	6.9%
Dominican Republic	5.4	4.0	3.9	3.6	-12.6%
Italy	1.9	1.6	1.8	2.8	13.8%
China	1.5	1.6	1.9	2.4	17.0%
Ireland	9.9	10.2	1.2	1.8	-43.3%
Spain	5.2	6.2	3.7	1.6	-32.5%
Czech Republic	0.5	0.4	0.4	0.7	11.9%
Slovakia	0.5	0.7	0.9	0.6	6.3%
Others	29.1	23.7	27.4	30.8	1.9%
Total	126	107	114	124	-0.5%

Top Suppliers of Pharmaceutical Goods to Turkey in 2022:

Germany (325.8 tons)
Hungary (147.4 tons)
Dominican Republic (109.4 tons)
India (109.0 tons)
United States (77.1 tons)
France (76.4 tons)
Slovakia (52.2 tons)
China (51.1 tons)
South Korea (48.7 tons)
Italy (46.7 tons)
Ireland (35.8 tons)
Czech Republic (35.4 tons)
Spain (33.5 tons)

Pharmaceutical Goods Exports in Turkey

Pharmaceutical goods exports from Turkey rose modestly to 8.2K tons in 2022, surging by 2.8% on 2021. The total export volume increased at an average annual rate of +5.9% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 20%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, pharmaceutical goods exports rose sharply to $57M in 2022. In general, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +13.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +47.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 27% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.

Export of Pharmaceutical Goods in Turkey (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
France	2.3	2.1	2.3	2.7	5.5%
Iraq	1.7	1.7	1.7	2.4	12.2%
Germany	2.2	1.8	3.0	2.1	-1.5%
Poland	0.5	0.8	1.2	1.9	56.0%
Spain	1.7	1.0	2.0	1.8	1.9%
Italy	1.2	1.6	1.6	1.7	12.3%
United States	1.3	1.0	2.0	1.6	7.2%
United Kingdom	2.8	2.2	3.5	1.4	-20.6%
Georgia	0.8	0.9	1.4	1.3	17.6%
United Arab Emirates	0.1	0.2	0.3	1.0	115.4%
Algeria	0.2	0.3	0.4	0.8	58.7%
Syrian Arab Republic	N/A	N/A	N/A	0.6	0%
Libya	1.1	0.6	0.5	0.5	-23.1%
Others	23.1	28.5	34.2	37.5	17.5%
Total	38.9	42.7	54.1	57.5	13.9%