Pharmaceutical Goods Price in Colombia - 2022

Contents:

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

Pharmaceutical Goods Price in Colombia (CIF) - 2022

The average pharmaceutical goods import price stood at $89,680 per ton in 2022, picking up by 2.6% against the previous year. Overall, the import price, however, continues to indicate a perceptible setback. The pace of growth was the most pronounced in 2014 an increase of 19% against the previous year. As a result, import price reached the peak level of $144,051 per ton. From 2015 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($204,634 per ton), while the price for Canada ($21,121 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Pharmaceutical Goods Price in Colombia (FOB) - 2022

In 2022, the average pharmaceutical goods export price amounted to $130,484 per ton, with a decrease of -10.8% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +7.9% 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 decreased by -0.1% against 2014 indices. The pace of growth appeared the most rapid in 2013 an increase of 50%. The export price peaked at $146,360 per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($420,997 per ton), while the average price for exports to the United Arab Emirates ($14,548 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 Costa Rica (+23.3%), while the prices for the other major destinations experienced more modest paces of growth.

Pharmaceutical Goods Imports in Colombia

In 2022, approx. 1.1K tons of pharmaceutical goodses were imported into Colombia; declining by -13.9% on 2021 figures. The total import volume increased at an average annual rate of +3.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 33% against the previous year. As a result, imports reached the peak of 1.3K tons, and then reduced in the following year.

In value terms, pharmaceutical goods imports shrank to $102M in 2022. The total import value increased at an average annual rate of +1.3% 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 2021 when imports increased by 30% against the previous year. As a result, imports attained the peak of $115M, and then contracted in the following year.

Top Suppliers of Pharmaceutical Goods to Colombia in 2022:

1. Dominican Republic (198.9 tons)
2. Germany (166.5 tons)
3. Taiwan (Chinese) (161.1 tons)
4. United States (130.0 tons)
5. China (108.8 tons)
6. Brazil (81.3 tons)
7. Spain (67.0 tons)
8. Switzerland (28.8 tons)
9. Canada (24.3 tons)
10. Mexico (8.6 tons)

Pharmaceutical Goods Exports in Colombia

In 2022, shipments abroad of pharmaceutical goodses was finally on the rise to reach 46 tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, recorded a deep setback.

In value terms, pharmaceutical goods exports soared to $6M in 2022. In general, exports, however, faced a abrupt decline.

Top Export Markets for Pharmaceutical Goods from Colombia in 2022:

1. Ecuador (10.0 tons)
2. United States (6.6 tons)
3. El Salvador (4.7 tons)
4. Peru (4.7 tons)
5. Bolivia (2.3 tons)
6. Uruguay (2.2 tons)
7. Costa Rica (1.8 tons)
8. Chile (1.6 tons)
9. Cuba (1.5 tons)
10. United Kingdom (1.5 tons)
11. Dominican Republic (1.3 tons)
12. Madagascar (0.9 tons)
13. United Arab Emirates (0.8 tons)

Source: IndexBox Market Intelligence Platform