Pharmaceutical Goods Price in Vietnam - 2021

Contents:

1. Pharmaceutical Goods Price in Vietnam (CIF) - 2021
2. Pharmaceutical Goods Price in Vietnam (FOB) - 2021
3. Pharmaceutical Goods Imports in Vietnam
4. Pharmaceutical Goods Exports in Vietnam

Pharmaceutical Goods Price in Vietnam (CIF) - 2021

The average pharmaceutical goods import price stood at $146K per ton in December 2021, with a decrease of -1.8% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.2%. The growth pace was the most rapid in February 2021 an increase of 25% month-to-month. Over the period under review, average import prices hit record highs at $164K per ton in October 2021; however, from November 2021 to December 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2021, the country with the highest price was Switzerland ($196K per ton), while the price for Sweden ($24,154 per ton) was amongst the lowest.

From December 2020 to December 2021, the most notable rate of growth in terms of prices was attained by Thailand (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Pharmaceutical Goods Price in Vietnam (FOB) - 2021

In December 2021, the average pharmaceutical goods export price amounted to $287K per ton, stabilizing at the previous month. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2021 an increase of 19% month-to-month. As a result, the export price attained the peak level of $350K per ton. From February 2021 to December 2021, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was China ($310K per ton), while the average price for exports to Cambodia ($171K per ton) was amongst the lowest.

From December 2020 to December 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+0.4%), while the prices for the other major destinations experienced more modest paces of growth.

Pharmaceutical Goods Imports in Vietnam

For the third year in a row, Vietnam recorded decline in supplies from abroad of pharmaceutical goodses, which decreased by -8% to 1.7K tons in 2022. In general, imports recorded a noticeable shrinkage. The smallest decline of -1.3% was in 2021.

In value terms, pharmaceutical goods imports reduced modestly to $128M in 2022. The total import value increased at an average annual rate of +3.2% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 7%.

Top Suppliers of Pharmaceutical Goods to Vietnam in 2022:

1. Netherlands (134.1 tons)
2. France (121.9 tons)
3. Singapore (106.5 tons)
4. Turkey (95.0 tons)
5. Germany (90.6 tons)
6. United States (87.3 tons)
7. Ireland (75.8 tons)
8. Hungary (69.9 tons)
9. South Korea (54.9 tons)
10. China (49.6 tons)
11. Spain (44.9 tons)
12. Hong Kong SAR (36.9 tons)

Pharmaceutical Goods Exports in Vietnam

Pharmaceutical goods exports from Vietnam dropped to 27 tons in 2022, falling by -13.4% compared with 2021. The total export volume increased at an average annual rate of +3.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 37%. As a result, the exports attained the peak of 31 tons, and then declined in the following year.

In value terms, pharmaceutical goods exports contracted rapidly to $7.6M in 2022. In general, total exports indicated tangible growth from 2019 to 2022: its value increased at an average annual rate of +2.3% 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 +29.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 59% against the previous year. As a result, the exports reached the peak of $9.3M, and then shrank markedly in the following year.

Top Export Markets for Pharmaceutical Goods from Vietnam in 2022:

1. Myanmar (27.2 tons)

Source: IndexBox Market Intelligence Platform