2022
Exports
$2.63BWorld Rnk 26 / 223
Flag Rnk 16 / 96
2022
PRODUCT COMPLEXITY IN Pharmaceutical products
1.38Rnk 75 / 1025
2022
Imports
$12.4BWorld Rnk 14 / 226
Flag Rnk 5 / 96
2022
ECONOMIC COMPLEXITY of Australia
-0.24Rnk 78 / 133

About

Exports In 2022, Australia exported $2.63B 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 ($949M), New Zealand ($310M), China ($288M), Vietnam ($99.7M), and Germany ($82.1M).

The fastest growing export markets for Pharmaceutical products of Australia between 2021 and 2022 were United States ($141M), New Zealand ($64.8M), and Vietnam ($46M).

Imports In 2022, Australia imported $12.4B in Pharmaceutical products, becoming the 14th 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 ($2.28B), Germany ($2.09B), Ireland ($1.26B), Switzerland ($1B), and Belgium ($754M).

The fastest growing import markets in Pharmaceutical products for Australia between 2021 and 2022 were United States ($546M), Ireland ($457M), and Germany ($420M).

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 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 (2022)$2.63B
IMPORTS (2022)$12.4B
NET TRADE (2022)-$9.75B

In 2022, Australia exported $2.63B in Pharmaceutical products. The main destinations of Australia exports on Pharmaceutical products were United States ($949M), New Zealand ($310M), China ($288M), Vietnam ($99.7M), and Germany ($82.1M).

In 2022, Australia imported $12.4B in Pharmaceutical products, mainly from United States ($2.28B), Germany ($2.09B), Ireland ($1.26B), Switzerland ($1B), and Belgium ($754M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Pharmaceutical products EXPORT MARKETS FOR Australia WERE (2021 - 2022):
United States$141M (17.4%)
New Zealand$64.8M (26.4%)
Vietnam$46M (85.7%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Pharmaceutical products BY Australia WERE (2021 - 2022):
China-$67.3M (-19%)
Croatia-$31.2M (-100%)
Turkey-$23.1M (-58.9%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Australia's main exporting competitors in Pharmaceutical products were:
In 2022, 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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