Pharmaceutical Goods Price in Pakistan - 2023

Contents:

1. Pharmaceutical Goods Price in Pakistan (CIF) - 2023
2. Pharmaceutical Goods Price in Pakistan (FOB) - 2022
3. Pharmaceutical Goods Imports in Pakistan
4. Pharmaceutical Goods Exports in Pakistan

Pharmaceutical Goods Price in Pakistan (CIF) - 2023

In February 2023, the average pharmaceutical goods import price amounted to $43,098 per ton, rising by 19% against the previous month. In general, the import price, however, recorded a slight decrease. The pace of growth was the most pronounced in June 2022 when the average import price increased by 32% against the previous month. The import price peaked at $54,189 per ton in February 2022; however, from March 2022 to February 2023, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Spain ($74,874 per ton), while the price for Hungary ($23,579 per ton) was amongst the lowest.

From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by India (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Pharmaceutical Goods Price in Pakistan (FOB) - 2022

In 2022, the average pharmaceutical goods export price amounted to $8,254 per ton, with an increase of 10% against the previous year. Over the period under review, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pharmaceutical goods export price increased by +53.6% against 2018 indices. The pace of growth was the most pronounced in 2015 when the average export price increased by 18%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was South Africa ($58,426 per ton), while the average price for exports to Afghanistan totaled $7,248 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+61.0%).

Pharmaceutical Goods Imports in Pakistan

In 2022, the amount of pharmaceutical goodses imported into Pakistan dropped remarkably to 498 tons, reducing by -16.6% compared with 2021 figures. In general, imports saw a noticeable setback. The pace of growth appeared the most rapid in 2021 with an increase of 15% against the previous year. As a result, imports reached the peak of 596 tons, and then declined markedly in the following year.

In value terms, pharmaceutical goods imports shrank to $21M in 2022. Overall, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +10.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +34.9% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 54% against the previous year. As a result, imports reached the peak of $24M, and then dropped in the following year.

Top Suppliers of Pharmaceutical Goods to Pakistan in 2022:

1. Belgium (189.7 tons)
2. Germany (92.9 tons)
3. Finland (53.3 tons)
4. United States (30.3 tons)
5. China (20.3 tons)
6. Dominica (15.8 tons)
7. Dominican Republic (14.5 tons)
8. Singapore (13.3 tons)
9. India (8.8 tons)
10. United Kingdom (4.4 tons)
11. Spain (4.3 tons)

Pharmaceutical Goods Exports in Pakistan

In 2022, after three years of growth, there was significant decline in shipments abroad of pharmaceutical goodses, when their volume decreased by -90% to 67 tons. Over the period under review, exports, however, posted significant growth. The growth pace was the most rapid in 2021 with an increase of 1,374%. As a result, the exports attained the peak of 666 tons, and then shrank notably in the following year.

In value terms, pharmaceutical goods exports shrank dramatically to $552K in 2022. In general, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 1,457% against the previous year. As a result, the exports reached the peak of $5M, and then shrank rapidly in the following year.

Top Export Markets for Pharmaceutical Goods from Pakistan in 2022:

1. Afghanistan (65.2 tons)
2. South Africa (1.1 tons)

Source: IndexBox Market Intelligence Platform