2023
Exports
$2.65BWorld Rnk 26 / 225
Flag Rnk 16 / 96
2023
PRODUCT COMPLEXITY IN Pharmaceutical products
1.25Rnk 89 / 1025
2023
Imports
$11BWorld Rnk 16 / 226
Flag Rnk 5 / 96
2023
ECONOMIC COMPLEXITY of Australia
-0.28Rnk 75 / 132

About

Exports In 2023, Australia exported $2.65B in Pharmaceutical products, making it the 26th largest exporter of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 16th most exported product in Australia. The main destination of Pharmaceutical products exports from Australia are: United States ($1.17B), New Zealand ($279M), China ($234M), Germany ($102M), and United Kingdom ($93M).

The fastest growing export markets for Pharmaceutical products of Australia between 2022 and 2023 were United States ($202M), South Korea ($24.9M), and United Arab Emirates ($18.4M).

Imports In 2023, Australia imported $11B in Pharmaceutical products, becoming the 16th largest importer of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 5th most imported product in Australia. Australia imports Pharmaceutical products primarily from: United States ($2.46B), Germany ($1.56B), Belgium ($939M), Switzerland ($827M), and Ireland ($800M).

The fastest growing import markets in Pharmaceutical products for Australia between 2022 and 2023 were Denmark ($136M), Belgium ($89.6M), and Slovenia ($36.4M).

Latest Trends

Dec 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 Pharmaceutical products. 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 (2023)$2.65B
IMPORTS (2023)$11B
NET TRADE (2023)-$8.32B

In 2023, Australia exported $2.65B in Pharmaceutical products. The main destinations of Australia exports on Pharmaceutical products were United States ($1.17B), New Zealand ($279M), China ($234M), Germany ($102M), and United Kingdom ($93M).

In 2023, Australia imported $11B in Pharmaceutical products, mainly from United States ($2.46B), Germany ($1.56B), Belgium ($939M), Switzerland ($827M), and Ireland ($800M).

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Export Destinations (NaN)

Import Origins (NaN)

Market Growth

Flow
THE FASTEST GROWING Pharmaceutical products EXPORT MARKETS FOR Australia WERE (2022 - 2023):
United States$202M (20.9%)
South Korea$24.9M (103%)
United Arab Emirates$18.4M (43.8%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Pharmaceutical products BY Australia WERE (2022 - 2023):
China-$38.4M (-14.1%)
France-$33.8M (-52%)
Vietnam-$27.8M (-43.8%)

Change in Exports by Market (undefined - undefined)

Market Concentration

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Flow
Type
In 2023, Australia's main exporting competitors in Pharmaceutical products were:
In 2023, Australia's main importing competitors in Pharmaceutical products were:

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Trade Value of Pharmaceutical products by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $211M
TOP IMPORT POTENTIALIndia+ $281M

Pharmaceutical products’s highest export potential is United States. With an export gap of $211M.   Pharmaceutical products’s highest import potential is India with an import gap of $281M.

See methodology.

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