Pharmaceutical Goods Price in Azerbaijan - 2023

Contents:

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

Pharmaceutical Goods Price in Azerbaijan (CIF) - 2022

In 2022, the average pharmaceutical goods import price amounted to $36,253 per ton, reducing by -8% against the previous year. Over the period under review, the import price saw a mild downturn. The growth pace was the most rapid in 2019 an increase of 46%. The import price peaked at $52,703 per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hungary ($154,023 per ton), while the price for Turkey ($9,614 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Pharmaceutical Goods Price in Azerbaijan (FOB) - 2022

In 2022, the average pharmaceutical goods export price amounted to $87,934 per ton, increasing by 44% against the previous year. Overall, the export price continues to indicate a tangible expansion. The most prominent rate of growth was recorded in 2014 when the average export price increased by 509% against the previous year. The export price peaked at $395,577 per ton in 2016; however, from 2017 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 Russia ($108,504 per ton), while the average price for exports to Ukraine totaled $3,678 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+167.2%), while the prices for the other major destinations experienced more modest paces of growth.

Pharmaceutical Goods Imports in Azerbaijan

In 2022, the amount of pharmaceutical goodses imported into Azerbaijan soared to 213 tons, jumping by 33% on the previous year. Overall, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by 57% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, pharmaceutical goods imports skyrocketed to $7.7M in 2022. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +13.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.8% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Pharmaceutical Goods to Azerbaijan in 2022:

1. Turkey (131.6 tons)
2. Germany (21.8 tons)
3. Russia (13.4 tons)
4. China (11.6 tons)
5. India (6.9 tons)
6. South Korea (4.3 tons)
7. Hungary (3.9 tons)

Pharmaceutical Goods Exports in Azerbaijan

In 2022, overseas shipments of pharmaceutical goodses were finally on the rise to reach 1.4 tons after two years of decline. Over the period under review, exports, however, recorded a dramatic shrinkage.

In value terms, pharmaceutical goods exports skyrocketed to $123K in 2022. In general, exports, however, saw a abrupt slump.

Top Export Markets for Pharmaceutical Goods from Azerbaijan in 2022:

1. Russia (983.0 kg)
2. Ukraine (400.0 kg)

Source: IndexBox Market Intelligence Platform