Pharmaceutical Goods Price in South Africa - 2023

Contents:

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

Pharmaceutical Goods Price in South Africa (CIF) - 2023

In July 2023, the average pharmaceutical goods import price amounted to $81,650 per ton, picking up by 7.3% against the previous month. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in February 2023 an increase of 80% against the previous month. The import price peaked at $112K per ton in August 2022; however, from September 2022 to July 2023, import prices stood at a somewhat 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 Germany ($207K per ton), while the price for China ($16,253 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 Costa Rica (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Pharmaceutical Goods Price in South Africa (FOB) - 2022

The average pharmaceutical goods export price stood at $26,458 per ton in 2022, shrinking by -13.9% against the previous year. Overall, the export price, however, continues to indicate a tangible expansion. The growth pace was the most rapid in 2015 when the average export price increased by 158%. The export price peaked at $34,445 per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Zimbabwe ($35,824 per ton), while the average price for exports to Lesotho ($5,777 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 Swaziland (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Pharmaceutical Goods Imports in South Africa

Pharmaceutical goods imports into South Africa expanded rapidly to 1.2K tons in 2022, increasing by 13% compared with 2021 figures. Over the period under review, imports, however, showed a perceptible downturn.

In value terms, pharmaceutical goods imports contracted to $98M in 2022. The total import value increased at an average annual rate of +2.1% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 33%. As a result, imports attained the peak of $107M, and then dropped in the following year.

Top Suppliers of Pharmaceutical Goods to South Africa in 2022:

1. China (127.7 tons)
2. Germany (121.1 tons)
3. India (121.0 tons)
4. Ireland (105.0 tons)
5. United States (104.5 tons)
6. Italy (77.5 tons)
7. Hungary (62.7 tons)
8. France (59.7 tons)
9. Belgium (55.7 tons)
10. Costa Rica (50.1 tons)
11. Netherlands (40.3 tons)
12. Thailand (35.4 tons)
13. Canada (33.3 tons)

Pharmaceutical Goods Exports in South Africa

In 2022, exports of pharmaceutical goodses from South Africa expanded remarkably to 344 tons, picking up by 11% compared with 2021 figures. Overall, exports, however, continue to indicate a noticeable decrease.

In value terms, pharmaceutical goods exports declined modestly to $9.1M in 2022. The total export value increased at an average annual rate of +1.7% over the period from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 18%. As a result, the exports attained the peak of $10M. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Top Export Markets for Pharmaceutical Goods from South Africa in 2022:

1. Namibia (83.7 tons)
2. Lesotho (61.5 tons)
3. Botswana (53.6 tons)
4. United States (15.0 tons)
5. Netherlands (13.9 tons)
6. Zambia (13.4 tons)
7. Zimbabwe (13.1 tons)
8. Democratic Republic of the Congo (12.1 tons)
9. Mozambique (12.1 tons)
10. Swaziland (11.6 tons)
11. Kenya (3.8 tons)
12. Tanzania (0.5 tons)

Source: IndexBox Market Intelligence Platform