Pharmaceutical Goods Price in Estonia - 2023
Contents:
- Pharmaceutical Goods Price in Estonia (CIF) - 2023
- Pharmaceutical Goods Price in Estonia (FOB) - 2023
- Pharmaceutical Goods Imports in Estonia
- Pharmaceutical Goods Exports in Estonia
Pharmaceutical Goods Price in Estonia (CIF) - 2023
In October 2023, the average pharmaceutical goods import price amounted to $109K per ton, with a decrease of -14.7% against the previous month. Over the period from October 2022 to October 2023, it increased at an average monthly rate of +1.6%. The pace of growth was the most pronounced in May 2023 when the average import price increased by 30% against the previous month. As a result, import price attained the peak level of $159K per ton. From June 2023 to October 2023, the average import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Lithuania ($717K per ton), while the price for China ($9,271 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Germany (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Pharmaceutical Goods Price in Estonia (FOB) - 2023
In October 2023, the average pharmaceutical goods export price amounted to $15,811 per ton, approximately mirroring the previous month. In general, export price indicated a mild increase from October 2022 to October 2023: its price increased at an average monthly rate of +1.2% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2023 figures, pharmaceutical goods export price decreased by -42.8% against June 2023 indices. The pace of growth appeared the most rapid in November 2022 when the average export price increased by 79% month-to-month. Over the period under review, the average export prices attained the maximum at $27,829 per ton in February 2023; however, from March 2023 to October 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Lithuania ($17,485 per ton), while the average price for exports to Finland ($8,093 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+14.9%), while the prices for the other major destinations experienced a decline.
Pharmaceutical Goods Imports in Estonia
In 2022, approx. 170 tons of pharmaceutical goodses were imported into Estonia; jumping by 36% on 2021 figures. Overall, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +6.3% 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 decreased by -8.9% against 2020 indices.
In value terms, pharmaceutical goods imports rose remarkably to $17M in 2022. The total import value increased at an average annual rate of +4.8% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Pharmaceutical Goods in Estonia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | N/A | 5.8 | 6.4 | 6.2 | 3.4% |
| Lithuania | N/A | 3.5 | 3.6 | 4.0 | 6.9% |
| Finland | 1.0 | 1.9 | 1.5 | 1.6 | 17.0% |
| Germany | 4.2 | 0.9 | 1.1 | 1.1 | -36.0% |
| Sweden | 0.1 | 0.1 | 0.2 | 0.4 | 58.7% |
| Denmark | 0.2 | 0.2 | 0.1 | 0.2 | 0.0% |
| China | N/A | N/A | N/A | 0.1 | 0% |
| Dominican Republic | 5.1 | N/A | N/A | N/A | 0% |
| Others | 3.8 | 2.3 | 2.6 | 2.9 | -8.6% |
| Total | 14.5 | 14.7 | 15.5 | 16.7 | 4.8% |
Top Suppliers of Pharmaceutical Goods to Estonia in 2022:
- Poland (100.0 tons)
- China (15.1 tons)
- Finland (12.2 tons)
- Germany (9.8 tons)
- Lithuania (6.4 tons)
- Denmark (4.9 tons)
- Sweden (4.5 tons)
Pharmaceutical Goods Exports in Estonia
In 2022, overseas shipments of pharmaceutical goodses were finally on the rise to reach 93 tons after two years of decline. Overall, exports, however, showed a dramatic decline.
In value terms, pharmaceutical goods exports reduced to $7.6M in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 3.4%. As a result, the exports attained the peak of $8M. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Pharmaceutical Goods in Estonia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 5.1 | 5.8 | 6.2 | 6.1 | 6.1% |
| Latvia | 1.3 | 1.5 | 1.4 | 1.1 | -5.4% |
| Finland | N/A | 0.1 | N/A | 0.1 | 0.0% |
| Sweden | 1.1 | 0.4 | N/A | N/A | -63.6% |
| Others | 0.2 | 0.1 | 0.1 | 0.3 | 14.5% |
| Total | 7.7 | 8.0 | 7.8 | 7.6 | -0.4% |
Top Export Markets for Pharmaceutical Goods from Estonia in 2022:
- Lithuania (65.2 tons)
- Latvia (22.4 tons)
- Finland (2.5 tons)
- Sweden (0.6 tons)
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