2022
Exports
$1.2BWorld Rnk 28 / 217
Flag Rnk 29 / 1208
2022
PRODUCT COMPLEXITY IN Packaged Medicaments
0.67Rnk 291 / 1025
2022
Imports
$6.41BWorld Rnk 15 / 224
Flag Rnk 7 / 1206
2022
ECONOMIC COMPLEXITY of Australia
-0.24Rnk 78 / 133

About

Exports In 2022, Australia exported $1.2B in Packaged Medicaments, making it the 28th largest exporter of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 29th most exported product in Australia. The main destination of Packaged Medicaments exports from Australia are: China ($234M), New Zealand ($204M), United States ($103M), Vietnam ($67.3M), and Switzerland ($65.3M).

The fastest growing export markets for Packaged Medicaments of Australia between 2021 and 2022 were Vietnam ($27.7M), Switzerland ($19.8M), and New Zealand ($18.4M).

Imports In 2022, Australia imported $6.41B in Packaged Medicaments, becoming the 15th largest importer of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 7th most imported product in Australia. Australia imports Packaged Medicaments primarily from: United States ($1.05B), Ireland ($926M), Germany ($857M), Switzerland ($453M), and Canada ($399M).

The fastest growing import markets in Packaged Medicaments for Australia between 2021 and 2022 were Ireland ($511M), Canada ($338M), and United States ($324M).

Latest Trends

Aug 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Packaged Medicaments. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.2B
IMPORTS (2022)$6.41B
NET TRADE (2022)-$5.21B

In 2022, Australia exported $1.2B in Packaged Medicaments. The main destinations of Australia exports on Packaged Medicaments were China ($234M), New Zealand ($204M), United States ($103M), Vietnam ($67.3M), and Switzerland ($65.3M).

In 2022, Australia imported $6.41B in Packaged Medicaments, mainly from United States ($1.05B), Ireland ($926M), Germany ($857M), Switzerland ($453M), and Canada ($399M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Packaged Medicaments EXPORT MARKETS FOR Australia WERE (2021 - 2022):
Vietnam$27.7M (70.1%)
Switzerland$19.8M (43.6%)
New Zealand$18.4M (9.94%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Packaged Medicaments BY Australia WERE (2021 - 2022):
China-$69.5M (-22.9%)
Turkey-$24.3M (-62.7%)
Hong Kong-$20.7M (-29.5%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Australia's main exporting competitors in Packaged Medicaments were:
In 2022, Australia's main importing competitors in Packaged Medicaments were:

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Trade Value of Packaged Medicaments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $118M
TOP IMPORT POTENTIALIndia+ $220M

Packaged Medicaments’s highest export potential is United States. With an export gap of $118M.   Packaged Medicaments’s highest import potential is India with an import gap of $220M.

See methodology.

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