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Pharmaceutical exports increased by 26.8% and reached $1.9 billion

The exports of the Turkish pharmaceuticals and pharmaceutical products industry increased by 26.8% annually in 2020, reaching $1.9 billion.

According to the information compiled from the data of the Ministry of Commerce and the Turkish Statistical Institute, Turkey’s exports of pharmaceuticals and pharmaceutical products have increased with the effect of the coronavirus epidemic. The pharmaceutical industry, whose strategic importance has been emphasized recently, is among the sectors that provide the highest added value in the world.

WE ARE THE 22ND

The sector, which has entered a rapid growth process in recent years with the effect of demographic changes and diseases, is the third largest sector in the world. According to International Trade Center data, world drug imports increased by 5.1% in 2019 compared to the previous year and reached $694.1 billion. The leading countries in world drug imports were the USA, Germany, Belgium, China, the Netherlands and Switzerland. Turkey ranked 22nd among pharmaceutical importing countries in 2019 with a share of 0.7%.

Turkey’s pharmaceutical and pharmaceutical industry exports rose to $1 billion 849 million 658 thousand last year, with an increase of 26.8% compared to the previous year. When analyzed on the basis of export product group, drugs prepared for use in treatment and prevention took the first place with $1.1 billion. This was followed by human and animal blood, serum, vaccine, toxins with $652.4 million, and pharmaceutical goods and preparations with $42.6 million. Last year, the product group whose exports increased the most was glycosides with 564.3%. In the proportional increase, this product group was followed by provitamins and vitamins with 83.8% and hormones with 77.1%.

SOUTH KOREA IS FIRST

South Korea ranked first with $615.9 million in the export of pharmaceuticals and pharmaceutical products by Turkey last year. Along with South Korea, the top 15 countries in exports were Iraq, Kazakhstan, Azerbaijan, Uzbekistan, Georgia, Iran, Switzerland, Bulgaria, Poland, TRNC, Slovenia, Germany, Syria and Albania. Exports to these countries constituted 67.3% of the total exports of the industry.

Source: Hurriyet / Translated by Irem Yildiz

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